The federal tax credit for installing a geothermal system ends on December 31, 2016. If you are interested in benefiting, you have to have the system installed and paid for by that day.
This is not a deduction. This is a dollar-for-dollar, 30% tax credit on the entire cost of your geothermal installation. It’s huge. It makes geothermal extremely affordable.
So what is geothermal? It’s a heat pump system that uses the ground to either absorb or get rid of energy. Simply put, it uses the ground to absorb the heat out of your home in the summer, and takes it from the ground to heat your home during the winter.
Geothermal can reduce your overall heating and cooling consumption costs by as much as sixty to seventy percent. It’s a long-term investment that will pay dividends. And if you get it installed by the end of this year, you’re look at 30% credit come tax time.
Plus, because geothermal is so energy efficient, there are some really low interest loans to spread your monthly payments. If this is something you’re serious about, you’ve got to hop on it now. The installation process takes some time and we’re only going to be able to install so many in that time frame. Call us to discuss geothermal in your home at 610-444-3333.