Geothermal Tax Credits

A Geothermal heat pump is eligible for a Federal tax credit of 30% of the cost with no upper limit until December 31, 2016. These can be used on new or existing homes, and a principal residence or second home would both qualify (but not rentals).

A new Energy Star specification for geothermal heat pumps went into effect on December 1, 2009. The qualifications for Energy Star were expanded and Water-to-Water units were added.

A qualified system must meet the following requirements:

  1. Installed after January 1, 2009 and before December 31, 2016.
  2. According to the Internal Revenue Service (IRS) guidance, the Federal tax credits are tied to the Energy Star specification that is in effect at the date of purchase.
  3. EnergyStar encourages the use of a heat recovery module but this is not required under the guidelines effective December 1, 2009.
  4. Installed in a residence (not limited to primary residence).
  5. For purposes of Energy Star qualification, geothermal heat pumps include the following: open loop design, closed loop design, and DGX and are powered by a single phase current.
  6. The taxpayer has to file IRS Form 5695 to receive the credit

View more information about geothermal tax credits

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