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30% Geothermal Tax Credit is Back!

H.R.1892 - Bipartisan Budget Act of 2018 was signed by the President on 2/09/2018. In this 640 page piece of legislation there is small section which changes the expiration date from "December 31, 2016" to "December 31, 2021" The 30% Federal Tax Credit for Geothermal Systems is back! What if I had a system installed in 2017? Your system will qualify for this credit. Talk with you accountant immediately. You can refer them to this link which shows the bill. "The amendment made by this ...

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30% Tax Credit – Is it coming back?

In December 2015 congress passed a spending bill that extended tax credits for big wind and solar energy but left geothermal out. That was the end of the 30% Federal Tax Credit for geothermal. The new tax bill just released by the House of Representatives includes language that would extend the residential and commercial tax credits until January 1, 2022. The residential income tax credit would be retroactive back to January 1, 2017 at 30% and continue at that level until 2020 when it would ...

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Tax Credits Are Back!  30% Federal Tax Credit

Tax Credits Are Back! 30% Federal Tax Credit

Updated 2/10/2018 - Tax Credits Are Back! The reinstated GHP tax credits are retroactive to Jan. 1, 2017, and extended to Jan. 1, 2022. The language also changes an important consideration for commercial GHP projects, making them eligible if commenced by Jan. 1, 2022 rather than placed in service. Please note that content from here down was prior to the extension. The tax credit is back! //////////////////////// There is no tax credit extension. Through December 31, 2016 home own ...

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Geothermal Loop Fields - No Drill Rigs

Geothermal Loop Fields – No Drill Rigs

Geothermal heating and cooling is the most energy efficient way to both heat and cool your home on the planet.  Homeowners who want to take advantage of this awesome energy source under their feet have to accept some level of disruption in their landscaping... or do they? NexGen Energy located in Central Minnesota has a different method for installing geothermal loops, which are simply the underground pipe that exchanges the heat with the ground.  Homeowners can now have geothermal ...

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$1,800 Rebate for Maryland Residents

$1,800 Rebate for Maryland Residents

As of July 1 2014 a new rebate is in effect for Maryland Residents who install a closed loop geothermal systems. The previous rebate was $500 - the new one is $1,800. If you are a Maryland resident switching to geothermal be sure to ask your contractor about the new $1,800 rebate! To qualify the system much have an Energy Efficiency Ratio (EER) of 17.1 or higher and a Coefficient of Performance (COP) of 3.6 or higher. The majority of geothermal heat pumps far exceed these ratings. The revi ...

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