Residential & Commercial Geothermal Credits Extended
On December 28, the President signed into law an economic stimulus, budget and COVID-19 relief package. What this means for 
commercial and residential property owners and managers in Englewood, Florida and surrounding areas is the relief package includes:
- An extension for residential geothermal heat pump (GHP) tax credits
- An extension for commercial GHP, as well
Residential & Commercial Geothermal Credits Extended
The GHP credits for installations extend through 2023.
- Residential credits are 26% through 2022
- There will be a step down to 22% in 2023 and will expire Jan 1, 2024.
- 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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