Geothermal Tax Credits & Incentives
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Tax Credits & Incentives
In August 2022, the tax credit for geothermal heat pump installations was extended through 2034. Geothermal equipment that uses the stored solar energy from the ground for heating and cooling and that meets ENERGY STAR requirements at the time of installation is eligible for the tax credit. The credit has no limit and there's no limitation on the number of times the credit can be claimed.
US Tax Credits Through 2034
The energy tax credit can be combined with solar and wind credits as well as energy efficiency upgrade credits. A 30% federal tax credit for residential ground source heat pump installations has been extended through December 31, 2032. The incentive will be lowered to 26% for systems that are installed in 2033 and 22% in 2034, so act quickly to save the most on your installation.
Check For More Local Incentives
In addition to the federal tax credit, some state, local, and utility incentives may be available in your area for even more savings on installing a geothermal heat pump. Check out the Database of State Incentives for Renewables & Efficiency (DSIRE) website to find policies and incentives in your area.
About Paladin Geothermal
Our team services most major brands of geothermal and HVAC equipment. We’ve been proudly serving Grand Prairie, Dallas, Ft. Worth, North, East, and Central Texas with top of the line products, service, and maintenance for years and hope to do the same for you, give us a call today!
You can count on Paladin for all your Geothermal & HVAC Heating and Cooling Systems, including:
- planning assistance
- complete comfort system installation
- routine service and maintenance
- emergency repair
- energy-saving advice and consultation
- insulation of Foam and the new Milex Insulation
Our fully trained professional staff is dedicated to the complete satisfaction of customers throughout North, Central, and East Texas. After all, you've chosen the finest heating and cooling system available. We make sure that the system continues to live up to your expectations, improving your business and home's efficiency and helping you cut energy costs.
