If you’ve been thinking about investing in a geothermal heating and cooling system for your home, there has never been a better time. The US government is currently offering a geothermal tax credit for 30% of the cost of a geothermal unit. That means if you install a geothermal unit before the end of 2022, you can claim the credit when you file your taxes at the beginning of next year.
If you want to wait and install a unit in 2023, you can claim the credit in 2024 when you file taxes. In fact, the credit is good for an entire decade! But that doesn’t mean you should wait to invest in geothermal systems in Butler County. Keep reading to learn what you should know about the Inflation Reduction Act and how it can help you save money.Read more