Commercial Geothermal Air Conditioning Rebates Call Today: (855) 855-7804

Commercial Geothermal Tax Incentives

There is a bonus 50% depreciation the first year, on top of an accelerated 5 year 100% depreciation.  If you couple this with the Florida 100% property tax exemption, the tax saving amount to a little over 8% of the purchase price.  So for a $1 million job, the tax incentives will amount to 56% of the purchase price over the first 5 years or $560,000 savings in taxes.  The energy savings are up to 50%, and can amount to extraordinary savings on top of these tax incentives.  Please see here for more information.

• 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

The tax credit is available through December 31, 2016. Consult your tax professional for advice on taking advantage of the tax credit, as this announcement is not intended as a recommendation or endorsement of any financial strategy.

Helpful Resources
- See Federal Tax Credits for Energy Efficiency at  Energy Star
- Form 3468  Investment Credit  (Note, form is not yet updated to reflect current changes)
- More Information about the Business Energy Investment Tax Credit (ITC)  
- Find additional tax incentives that may be available in your state - Florida    Georgia
Consult your tax professional for details.