What is the Tax Credit?
Geothermal heat pumps are considered the most energy efficient heat pumps, because they use the earth’s natural heat from the ground instead of heat from the outside air. If you purchase a new Geothermal Heat Pump between January 1, 2011 and December 31, 2016, you’ll receive a Federal Tax Credit for 30% of the cost, with no limit, including installation costs.
What are the Requirements?
Existing homes, new construction, principle residences and second residences qualify for the tax credit, but rentals do not qualify. The geothermal heat pump must meet the ENERGY STAR® program requirements at the time of its purchase.
To learn more about the requirements for geothermal heat pumps, and see if your system qualifies, click here
Which Trane Geothermal Products are Eligible?
to find out which Trane Geothermal heat pumps are eligible for a federal tax credit.
How to I Apply?
File IRS Form 5695 to receive the credit. You can download the form here
. The credit amounts you may receive are subject to IRS regulations, so we recommend consulting a tax professional for advice on tax preparation.