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Residential & Commercial Geothermal Credits Extended

By: Robbi Hess | Category: Blog, GeoThermal Energy

On December 28, the President signed into law an economic stimulus, budget and COVID-19 relief package. What this means for geothermal creditscommercial and residential property owners and managers in Englewood, Florida and surrounding areas is the relief package includes:

  1. An extension for residential geothermal heat pump (GHP) tax credits
  2. An extension for commercial GHP, as well

Residential & Commercial Geothermal Credits Extended

The GHP credits for installations extend through 2023.

  1. Residential credits are 26% through 2022
  2. There will be a step down to 22% in 2023 and will expire Jan 1, 2024.
  3. The commercial credits for geothermal heat pump installation remain at 10% through 2023.

The new law also implemented a change in the definition of “renewable energy.”

The professionals from Symbiont Service and Symbiont Air Conditioning are thrilled that these credits were approved before the end of the year! 

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    Symbiont Service Corp

    4372 N Access Rd
    Englewood, FL 34224
    941.474.9306 FL West Coast
    954.840.8735 FL East Coast
    800.881.4328 Toll Free
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