Get Another Tax Credit This Year
Tax time is soon approaching and this year you can now take advantage of the Geothermal tax credit. This credit is for people who have made the switch to a geothermal heating and cooling system. Unlike other heating and cooling systems which run on natural gas or electric, these system run on geothermal energy. Geothermal energy is the energy which is created by the sun, and stored underground. As the sun’s rays build heat deep within the earth, geothermal energy is created.
The geothermal tax credit rewards people for making the change to a cleaner source of energy. Not only is there lower emissions from geothermal energy then any of the traditional forms of energy, geothermal energy is also renewable. This is why the government thinks that you should be rewarded with a credit that is equal to thirty percent of the purchase price of your geothermal heating and cooling system.
