Make the most of the Federal Tax Credit for Commercial Geothermal Systems.
The Inflation Reduction Act (IRA) of 2022 offers energy-saving federal tax incentives for commercial projects utilizing geothermal water source heat pumps.
Overview
Take advantage of significant federal tax incentives available for clean energy projects, including geothermal heat pumps (GHPs).
With the Inflation Reduction Act, projects completed with a geothermal loop and heat pumps may qualify for:
- Up to 30% credit on System Cost
- Up to 10% credit for Domestic Content
- Up to 10% credit for Energy Communities
- Up to $5.81 per square foot tax deduction
- 5-year accelerated depreciation and a 1-year bonus depreciation
FAQs
Who Qualifies?
For profit
Not for profit
What Qualifies?
Geothermal Heat Pumps &
Heat Pump Chiller Systems
When Should I Do It?
The sooner the better!
Reach out to your DPT Sales Representative now to optimize maximum benefits.