Corporate Geothermal is a Renewable Energy tax credit…

noel — Sun, 20 Sep 2009 02:16:28 +0000

Corporate geothermal or (ground-coupled or pond-coupled ) HVAC systems are eligible for tax credits under the same law as renewable energy measures tax credits. Renewable energies (wind and solar) and combined heat-power systems get a 30% tax credit. A new geothermal /geocoupled heat pump investment will garner a 10% tax refund, which improves an already excellent investment into a compelling investment.

Slinky piping loops are promoted for their advantage of requiring less trenching due to greater piping surface area and increased heat transfer capacity of the style.

Slinky ground source piping loop

The payback on the geothermal was very fast without the tax break. In this economic environment, paybacks are reportedly at 1-5 years. 16-100% return is hard to deny. I recommend doing it.

The federal Business Energy Tax incentive law grants businesses these tax credits: (database search form)

An additional tax credit is available for HVAC, lighting and hot water: if the building is designed and built to use 50% or less energy consumption than code allowable maximums (as benchmarked by ASHRAE Standard 90.1-2001) for each of these three categories. $0.60/square foot for each of the categories, up to a maximum tax credit of $1.80/square foot.

Noel's Green (make that SUSTAINABLE) Blog » Tax credits

Corporate Geothermal is a Renewable Energy tax credit…