geothermal tax credit

The geothermal tax credit is a government incentive that reduces the amount of taxes you owe if you install a geothermal system for your home or business. Geothermal systems use the stable temperature underground to heat or cool buildings efficiently. By offering this credit, the government encourages renewable energy use and energy savings. Typically, the credit covers a percentage of the installation costs, making geothermal energy more affordable and promoting environmentally friendly technology. This incentive can significantly lower upfront expenses, providing long-term savings and supporting sustainability efforts.