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Geothermal Tax Credit Reinstated

“The U.S. geothermal heat pump (GHP) industry scored a victory for its workforce and their employers as federal legislation was passed to extend federal tax credits for residential and commercial installations of GHPs. The measure was included in the Continuing Resolution spending bill approved by Congress.

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.”

Source: ACHR News