The fervor surrounding federal energy-efficiency tax credits has died down since many of them expired at the end of 2011. However, a qualifying geothermal or solar installation remains eligible for federal tax credits through the end of 2016. If you’re considering installing a geothermal or solar system, now’s the time to explore various types of systems, efficiency ratings, installation processes and more, so that you’re prepared to buy before the tax credits expire.
Here are the basic facts about geothermal or solar installation tax credits:
It’s an important distinction to note that the tax credits are not a tax deduction. They come right off your tax liability for that year, and if they exceed your liability, can carry over to the next year’s taxes.
Need to talk to an expert about a geothermal or solar installation? Climate Control Company is happy to help our neighbors in western Colorado find and use available tax credits and incentives. Call us today or visit our website.
Our goal is to help educate our customers in Aspen, Vail and the surrounding Western slope communities in Colorado about energy and home comfort issues (specific to HVAC systems). For more information about geothermal or solar installation and other HVAC topics, please visit our website.
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