U.S. House & Senate Pass Legislation Recognizing the Benefits of Geothermal Heat Pumps

As part of the Emergency Economic Stabilization Act passed Friday afternoon by the US House of Representatives, HVACR tax incentives for homeowners and businesses have been extended. President Bush has signed the bill into law. Key information is as follows:

  • A new $2,000 tax credit for homeowners that install geothermal heat pumps until 2016. 
  • An extension of the $500 homeowner's energy tax credit for the installation of high efficiency furnaces, central air conditioners and heat pumps, hot water heaters, and more for the year 2009. 
  • An extension of the Commercial Building Tax Deduction until 2013 that allows building owners to deduct up to $1.80 per square foot for improvements in overall performance. 
  • A one year extension, until December 31, 2009, of the $2000 homebuilders’ tax credit for the installation of high efficiency appliances, including HVAC, in new homes.

Please consult your local GeoComfort Dealer for more information!