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Geothermal Loop Tax Incentives

The Inflation Reduction Act of 2022 (IRA) increases the federal income tax credits and incentives for the installation of geothermal loops and heat pumps. Please consult your tax professional for further guidance. 

Tax Savings

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  • ​Investment tax credit (ITC) up to 30% of system cost

  • Made in the USA bonus tax credit of up to 10% of system cost

  • Up to $5 per square foot tax deduction

  • 5-year accelerated depreciation and a 1-year bonus depreciation

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Energy Savings

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Reduction in energy usage

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Sustainability (longer lasting
equipment)

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Decarbonization

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Environmentally Friendly

FAQ'S

Who Qualifies?

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What Qualifies?

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Geothermal Heat Pumps & Heat Pump Chillers Systems

When should I do it?

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Utilize now for max benefits!

For more information on Geothermal Tax Incentives, click on the below.

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WaterFurnace

Looking for more?

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​To understand what you qualify for please consult your tax professional.

Sources: WaterFurnace, the Inflation Reduction Act of 2022, and GeoExchange

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