home tax credits

What Are the Current Tax Credits Available for Geothermal Systems?

March 26, 2018

Taking advantage of all the tax credits for which you are eligible in Lawrenceburg, IN can save you and your family a considerable amount of money. An energy efficient system may qualify for federal tax rebates that can help you recover as much as 30 percent of the cost of your system when it is time to pay your taxes. Here are some facts you should know about the tax benefits of installing these advanced heating and air conditioning systems for your home or business.

The Residential Renewable Energy Tax Credit

On February 9, 2018, the U.S. Congress reinstated tax credits for residential and commercial geothermal systems. These tax credits are administered by the U.S. Department of Energy and the Internal Revenue Service. They are retroactive to installations performed and completed in 2017 and add up to 30 percent of the cost of these systems. There is no maximum cap on the amount of this credit for homeowners.

The Business Energy Investment Tax Credit

Businesses can also benefit by implementing an energy efficient system for their office spaces and other facilities. The Business Energy Investment Tax Credit provides a tax credit of 10 percent of the purchase price for certain geo-powered electric systems, allowing businesses to enjoy significant financial benefits when investing in these advanced HVAC systems.

Other Tax Incentives

Indiana offers property tax deductions for systems that meet certain basic requirements for energy efficiency. This is in addition to the 30 percent credit provided by the federal government for these qualifying systems.

At Western Hills Heating & Air Conditioning, we offer professional HVAC services for Dearborn County residents and businesses. We are a family-owned and operated business with more than 30 years of experience in the heating and cooling industry. Our technicians can provide you with expert guidance to help you find the most advanced solutions for your HVAC needs. Give us a call today at 812-227-3001 to schedule an appointment with us. We look forward to the opportunity to work with you.

You May Also Like

Cause of Uneven Cooling and What to Do About It in Lawrenceburg, IN

Cause of Uneven Cooling and What to Do About It in Lawrenceburg, IN

If some rooms in your home feel hotter than others, then you have an uneven cooling issue in your home. The problem is frustrating and costly, and it originates from inefficient cooling. Here are some reasons behind uneven cooling in your Lawrenceburg, IN home and...

4 Signs You’re Dealing With Poor Indoor Air Quality in Cincinnati, OH

4 Signs You’re Dealing With Poor Indoor Air Quality in Cincinnati, OH

Are you having difficulty breathing, relaxing or sleeping in your Cincinnati, OH home? The culprit could be an air quality issue. Check out the article below to identify four signs of poor indoor air quality (IAQ) and some ways to improve it. 1. Difficulty Breathing...

4 Tips for Improving Energy Efficiency This Summer in West Harrison, IN

4 Tips for Improving Energy Efficiency This Summer in West Harrison, IN

Cooling season is here. It's time to devise a strategy for conserving energy and avoiding soaring electricity costs this summer in West Harrison, IN. Here are a few ideas to help you cope with the season's heat and improve energy efficiency. 1. Change Your AC Filter...

Pin It on Pinterest

Compliance Settings
Increase Font Size
Grayscale
Simplified Font
Underline Links
Highlight Links
Reset
Close