Commercial incentives

Geothermal heat pumps, thermal storage
eligible for commercial federal tax credits

The federal Business Energy Investment Tax Credit (ITC) has been amended most recently by the Inflation Reduction Act to modify tax credits for energy investments.

Some technologies eligible for tax credits include the following:

• Geothermal heat pump systems that meet EnergyStar requirements
• Energy storage systems, such as battery-storage installations, both when paired with generation and as a stand-alone system
• Thermal energy storage system

Our rebates and special rates can be stacked with federal rebates and tax credits.

For more information please visit:

rewiringamerica.org

cleanenergyresourceteams.org

Note: This material is provided for informational purposes only. Please consult a tax professional before initiating your project.

Business Energy Investment Tax Credit summary

Federal tax credit includes direct pay to nonprofits

If you’re a non-profit business, tax-exempt agency, or local government office, you still can receive federal benefits for geothermal heating systems.

As part of the Inflation Reduction Act, the federal government has created a direct pay program on energy-efficient systems, such as geothermal. The same rules apply to entities using the direct pay program, including a credit of 30% to 40% of the cost of the geothermal heating system.