Residential Geothermal Tax Incentives
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30% of total GHP system cost
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No limit to credit for 2009 to 2016
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Can be used to offset AMT tax
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Can be combined with solar and wind tax credits
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Can be used in more than one year
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Eligibility:
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Home must be located in U.S.
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Includes houses, apartments, condos, and mobile homes
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Does not have to be your main home
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Installed between 1/1/2008 and 12/31/2016
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Commercial Geothermal Tax Credit or 10% Grant
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10% of total GHP system cost
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No limit to total credit amount
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Can be used to offset AMT Tax
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Can be combined with solar & wind tax credits
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Can be used in more than one year
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10% grant available in lieu of tax credit
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Accelerated Depreciation:
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5 year MACR depreciation for entire GHP system
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Eligibility:
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Building must be located in U.S.
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Original use begins with taxpayer
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Installed between 1/1/2008 and 12/31/2016
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