Tax Incentives
Recent changes in Federal law contain long-term tax incentives to encourage the use of renewable energy technologies, including geothermal heat pumps, in homes and businesses.
The new tax incentives for geothermal heat pumps are the culmination of an "all-out" federal legislative affairs effort unilaterally initiated in April 2007 by ClimateMaster, an LSB Industries company (New York Stock Exchange Symbol: LXU). Dan Ellis, president, with the support of a coalition of top-tier legislative consultants, embarked on a mission to educate Congress on the benefits of geothermal heat pumps and the role they could play in meeting our nation's energy-efficiency and climate change goals.
Highlights of the new tax incentives are listed below. For further information, download the Geothermal Tax Incentive Guides, which offer details and practical examples.
Click on the image to download a pdf copy of our Residential Geothermal Tax Guide:
Residential Geothermal Tax Incentives
30% of total GHP system cost
Credit limited to $2000 for 2008
No limit to credit amount for 2009 to 2016
Can be used to offset AMT tax
Can be combined with solar and wind tax credits
Can be used in more than one year
Eligibility:
Home must be located in the U.S.
Includes houses, apartments, condos, mobile homes
Does not have to be your main home
GHP must meet Energy Star requirements
Installed between 1/1/2008 and 12/31/2016
Click on the image to download a pdf copy of our Commercial Geothermal Tax Guide:
Commercial Geothermal Tax Incentives
10% of total GHP system cost
No limit to total credit amount
Can be used to offset AMT tax
Can be combined with solar and wind tax credits
Can be used in more than one year
10% grant available in lieu of tax credit
Accelerated Depreciation:
5 year MACR depreciation for entire GHP system
Eligible for 50% first-year bonus depreciation for 2008 - 2009
Eligibility:
Building located in U.S.
Original use begins with taxpayer
Installed between 10/3/2008 and 12/31/2016
For additional information on programs offered in New Hampshire go to:
| File | Description | File size |
|---|---|---|
 for the IRS form 5695 | Residential Energy Efficient Property Credit for tax year | 328 Kb |
| for instructions and IRS form 3468 | Investment Credit for commercial property tax year 2008. | 296 Kb |
| Commercial Geothermal Tax Guide | Commercial Geothermal Tax Incentives | 456 Kb |
| Residential Geothermal Tax Guide | Residential Geothermal Tax Incentives | 464 Kb |
| ClimateMaster 2009 geothermal tax certificate. | to download a copy of the ClimateMaster 2009 geothermal tax certificate. | 126 Kb |
