Best time in history to go Geo.
Achieve project payback in as little as one year due to available incentives in the Inflation Reduction Act.
The best time in history to go Geothermal.
Available incentives at a federal, state, and city level make project economics for geothermal technology more attractive than ever before. The long system life and inherent energy efficiency of the technology make project payments lightning fast and offer best in class total cost of ownership.
Federal:
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INCENTIVES
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VALUE
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DESCRIPTION
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RESOURCES
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|---|---|---|---|
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Investment Tax Credit: Geothermal (Prevailing Wage & Apprentices)
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30% of Energy Property
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Available to customers with projects smaller than 284 tons of heating and cooling, or by using Prevailing Wages and Apprentices for all mechanics and laborers installing the energy property. Applies to all geothermal and building equipment used to provide geothermal heating and cooling throughout facility.
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Investment Tax Credit: Geothermal (Domestic Content)
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10% of Energy Property
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Bonus credit for the Investment Tax Credit available for using US manufactured equipment. Available for using 100% structural steel and iron, and a minimum of 40% US manufactured equipment for any other equipment submitted comprising of the energy property.
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Investment Tax Credit: Geothermal (Energy Community)
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10% of Energy Property
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Bonus credit for the Investment Tax Credit available for projects built in specific geographical areas to benefit the energy transition. Applies for areas with coal closures and adjacent MSAs, areas with significant employment distress due to fossil fuel transition and unemployment.
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Modified accelerated cost recovery system (MACRS)
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22% of Costs
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Accelerated depreciation of equipment due to use of the Investment Tax Credit. Allows for a five year depreciation schedule as opposed to traditional thirty nine years for HVAC equipment.
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Commercial Energy Efficiency Deduction (179D)
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$5.00 Per Square Foot of Building Size
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Property improvement tax deduction available for upgrades to existing buildings. Applies to any energy efficiency improvement projects including building envelope, lighting, or HVAC upgrades. Receive up to $5.00 per square foot when using Prevailing Wages and Apprentices for mechanics and laborers on the project.
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State:
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INCENTIVES
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VALUE
|
DESCRIPTION
|
RESOURCES
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|---|---|---|---|
|
Investment Tax Credit: Geothermal (Prevailing Wage & Apprentices)
|
30% of Energy Property
|
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|
Investment Tax Credit: Geothermal (Domestic Content)
|
10% of Energy Property
|
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|
|
Investment Tax Credit: Geothermal (Energy Community
|
10% of Energy Property
|
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|
|
Modified accelerated cost recovery system (MACRS)
|
22% of Costs
|
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|
|
Commercial Energy Efficiency Deduction (179D)
|
$5.00 Per Square Foot of Building Size
|
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Interested in Darcy technology for your project?
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