What tax credits and incentives are available for geothermal?

Federal Geothermal Tax Credit

The Federal tax credit for 2019 is 30%. After 2019 that credit begins to decrease each year. Catskills Geothermal has a few openings left for those that wish to install in 2019. The tax credit in 2020 will be 26% and the tax credit in 2021 will be 22%.

New York State Geothermal Incentive

New York State also offers an incentive for homeowners to install Geothermal Systems by offering a rebate to installers. This savings is passed on to the consumer. The program is called the Ground Source Heat Pump Rebate through NYSERDA.

The state has made 26.5 million dollars available to incentivize the installation of this renewable and sustainable technology.

Incentives for Renewables

Did you know there are over 100 residential and commercial incentives in New York State to move toward renewable sources of energy? Check out the DSIRE database to explore other savings and policies in your area.

How does geothermal work? How much does geothermal cost? What tax credits do I qualify for?

Catskills Geothermal & Well Drilling can fill you in on all the details and educate you about the process, policies and tax credits. We encourage you to reach out!