| Water to Water Geothermal 30% Tax Credit |
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As of December 1, 2009, water-to-water geothermal heat pumps can qualify for the tax credit. To receive the tax credit, water-to-water geothermal heat pumps must be purchased on or after December 1, 2009. Note, the tax year in which the tax credit is applied is tied to the time the equipment is "placed in service." If you purchased the unit in December 2009 but it is not "placed in service" until January 2010 you would apply the tax credit to your 2010 tax return. The geothermal tax credit can be carried forward to future years. The geothermal heat pump tax credit is for 30% of the cost of the product (plus installation costs) with no upper limit, through 2016.  Click here for a list of the units that qualify for this tax credit - 272.04 Kb
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McNair Geothermal, Inc.