ClimateMaster Residential Tax Credit Certificate

EnergyStar listed ClimateMaster geothermal heat pumps.

Download the Federal tax credit form for 2008 installations.

Residential and commercial tax forms for geothermal projects completed in the 2008 tax year.

• Residential Energy Efficient Property Credit
  
• Investment Credit

The 2009 forms will differ based on the latest adjustments that Obama signed and are not yet available.

Download ClimateMasters tax guide for residential and commercial applications.

• Residential Geothermal Tax Incentives
• Commercial Geothermal Tax Incentives

NEW: Federal Opportunities for Geothermal Projects as of

Climatemaster E-News: Geothermal Heat Pump Legislative Announcement - E-news Alert

Click here for more information on the stimulus package.

H.U.D. - Energy Efficiency Mortgage Information

Database of State Incentives for Renewables & Efficiency
The IRS has published the new 2008 Form 5695 for the Residential Energy Efficient Property Credit, including the $2,000 tax credit for Energy Star geothermal heat pumps placed in service in 2008. You can view and download the form at the following link: http://www.irs.gov/pub/irs-pdf/f5695.pdf

Line 18 on the form is where you enter "Qualified geothermal heat pump property costs", Line 19 is where you multiply costs by 30%, and Line 20 displays the $2,000 "Maximum credit amount". The Instructions provide additional information, including "costs are treated as being paid when the original installation of the item is completed, or in the case of costs connected with the construction or reconstruction of your home, when your original use of the constructed or reconstructed home begins." The Instructions also say "To qualify for the credit, the geothermal heat pump property must meet the requirements of the Energy Star program that are in effect at the time of purchase. The home does not have to be your main home." If you use TurboTax, look for the "Home Energy Credits" topic under Personal Deductions and Credits for Your Home (TurboTax isn't updated yet, but they indicate it will be updated by January 22nd). As usual, contact your tax professional for applicability to your specific situation.

Commercial Systems: U.S. Department of Treasury - Renewable Energy Grants

For more information, visit our State by State reference.