Under the bipartisan budget act of 2018 the renewable energy tax credits for fuel cells small wind turbines and geothermal heat pumps now feature a gradual step down in the credit value the same as those for solar energy systems.
Geothermal energy credits 2018.
And 300 for any item of energy efficient building property.
Yes under the bipartisan budget act of 2018 the renewable energy tax credits for geothermal heat pumps now feature a gradual step down in the credit value.
26 for systems placed in service after 12 31 2019 and before 01 01 2021.
However it was reinstated in 2018 to include not just households with geothermal heat pumps installed in 2018 but it also retroactively included any geothermal heat pumps installed after january 1 2017.
The energy credit in february 2018 the geothermal federal tax credit was reinstated and can be retroactively applied to installations placed in service on january 1 2017 or later.
Property is usually considered to be placed in service when installation is complete and equipment is ready for use.
A credit limit for residential energy property costs for 2018 of 50 for any advanced main air circulating fan.
In 2016 the tax credit did actually expire.
Renewable energy tax credits.
22 for systems placed in service after 12 31 2020 and before 01 01 2022.
30 for systems placed in service by 12 31 2019.