Reclaim investment costs; keep them in your pocket!

SAVE MORE WITH GEOTHERMAL

In addition to experiencing the cost saving efficiency of a geothermal heating and cooling solution, there are now immediate cost savings available to make your investment more affordable. Homeowners can now receive 30% on the installation of new geothermal systems with federal tax credits offered because of the Inflation Reduction Act legislation passed in August of 2022.

Claiming the Credit

IRS Form 5695 is used to claim the Residential Energy Credit. Links to the form and pertinent reference documents are below:

1. About Form 5695
2. IRS Form 5695 Instructions
3. IRS Form 5695
4. Manufacturer’s Certification of Geothermal Heat Pump Property Compliance (ClimateMaster)

Designed for life, inside and out.

Starting in 2023, under the Inflation Reduction Act*, homeowners are eligible for a tax credit** of 30% of the cost, up to $2,000, for heat pumps, and/or heat pump water heaters, in accordance with section 25C of the US tax code. Only certain models qualify for the tax credit, and you must have a tax liability from which to reduce your taxes. Consult your tax advisor for advice.

Benefits beyond savings:

• Slim Profile
• Lower Utility Bill
• Zero Carbon Emissions
• Improved Air Quality
• Whisper Quiet Sound Levels

*The Inflation Reduction Act of 2022 (IRA) is the largest ever climate investment by the Federal Government in American history, projected to reduce greenhouse gas (GHG) by 31% to 44% below the 2005 levels by 2030.

**Filed in 2024 for 2023 tax year.