The 2009 Federal Stimulus Bill greatly affected the tax credits for geothermal installations.

On February 17, 2009: President Barack Obama signed into affect a stimulus bill known as The American Recovery and Reinvestment Act of 2009. The bill made significant changes to tax credits offered for residents who install geothermal systems in their homes.

The one time tax credit will be available on any Energy Star rated unit installed from 2009-2016. The previous $2,000 credit cap has been removed.

This means you can save a FULL 30% off of your complete geothermal installation. All eligible ENERGY STAR labeled geo-thermal heat pumps qualify for the tax credit. Geo-Enterprises can work with you so you are guaranteed to receive your credit. Simply use Form 5695. Note that an updated form with new information will be available later in 2009 for next year’s tax season.