Federal Incentives for Geothermal Heat Pumps

 

 

Residential Renewable Energy Tax Credit

30 percent tax credit for homeowners

 

 

Energy Efficient Commercial Buildings Tax Deduction

1.80 per sq. ft

 

 

Modified Accelerated Cost-Recovery System (MACRS) + Bonus Depreciation 

5 year write off complete installation, with 60 percent the first year

 

 

Business Energy Investment Tax Credit (ITC)

10 percent grant or tax credit of cost of system