default-header.jpg

Geothermal Tax Credits

Good news for Knoxville homebuilders and commercial building owners! You may meet the requirements for a geothermal tax credit!

The Energy Improvement and Extension Act of 2008 (H.R. 1424) allows...

  • a one-time tax credit of 30% of the total investment for residents who install residential ground loop or ground water geothermal heat pumps.
  • a one-time tax credit of 10% of the total investment for building owners who install a commercial geothermal system.

Qualifying systems are required to meet or exceed EnergyStar requirements and be installed after December 31, 2007.

Knoxville geothermal system owners can file for the tax credit by completing the Renewable Energy Credits subsection on their federal tax return forms (Form 5695).

Geothermal tax credits are only offered through December 2016. Please consult your local Knoxville tax professional for guidance on taking advantage of them, as we at Smith and Associates Geothermal cannot legally offer advice or endorsement of any financial strategy.

To inquire more about additional tax incentives that may be offered to you in TN, visit www.dsireusa.org.

And to learn more about why you should consider installing a geothermal heating and cooling system in the first place, contact Smith and Associates Geothermal.

About Smith and Associates Geothermal

Smith and Associates Geothermal has specialized in providing the Knoxville area geothermal heating and cooling solutions since 1992. Completing over 700 installations, we proudly offer WaterFurnace geothermal systems and stand behind our quality work and products.  Call us at Smith and Associates Geothermal today.  We are ready to bring you into the WaterFurnace geothermal family.

 
Copyright 2014 Smith and Associates Geothermal   |  All Rights Reserved
All content copyrighted by WaterFurnace and Smith and Associates Geothermal