06 Oct 2015

Take Advantage of Geothermal Tax Credits

C&J Well Company Comments Off on Take Advantage of Geothermal Tax Credits

Looking for ways to lower your utility bill? The answer might be right under your feet. We’re talking about geothermal energy – a naturally renewable energy source that harnesses the earth’s constant underground temperature to heat and cool your home.

Geothermal heat pump systems are a great and green alternative to electricity and fossil fuels. And, as an added bonus, the government is offering big bucks for folks willing to make the switch.

tax credits

How to Get Your Geothermal Rebate

Right now, 2015 federal tax credits for geothermal heating & cooling systems expire on December 31, 2016. While there is strong evidence that these credits could be extended for another five years, it still makes sense to consider switching to a geothermal heat pump before the current deadline arrives. Existing homes and new construction both qualify for rebates, as do primary and secondary residencies (unfortunately, rentals do not). The geothermal system must meet federal ENERGY STAR criteria, and homeowners can expect a rebate amount of 30%.

One major voice for the geothermal industry, the Geothermal Exchange Organization (GEO), is lobbying Congress to extend tax credits through 2020, but with all the gridlock on Capitol Hill, we feel it’s never too soon to invest in a geothermal heat pump for your own home.

Look Out for Unqualified Installers

Beware the Craigslist contractor! Anyone can advertise geothermal drilling and heat pump installation services (find out how to find the real C&J here). Also, remember that energy efficient home improvements involving tax credits are a popular target for scam artists. Always request quotes, references, licensure and insurance, warranties and guarantees in writing, before committing to a contract or signing anything.

Learn More

Geothermal heating & cooling systems are one of C&J Well Company’s most popular services. We have decades of geothermal drilling, installation, and maintenance experience, and our track record proves it.

While we do hope and anticipate that residential renewable energy tax credits will indeed be extended, we invite you to consider adding or switching to a geothermal heat pump at your home now, before cold weather and winter moves in. Explore our geothermal page for more information and installation options, and contact us with any questions!