Federal Tax Credits for Green Home Investments Reinstated

Congress approved a spending bill earlier this month, including the reinstatement of federal tax credits for green home investments through to January 1, 2022.

“Today’s action by Congress finally fixes the inequity created two years ago when tax credits for solar installations were extended through 2021,” says Geothermal Exchange Organization (GEO) President and CEO Doug Dougherty, per ProudGreenHome.com. The $500 energy-efficient home improvements tax credit was also extended, meaning homeowners can get a dollar-for-dollar credit up to $500 for making such improvements, like upgrading HVAC equipment.

The big winners include the geothermal heat pump industry and energy upgrade contractors, as well as homeowners who can lower their tax bills thanks to investments in their home. GEO’s relentless campaign to regain GHP tax credits included several Executive Fly-Ins to Washington DC in 2017, plus GEO Board Members, staff and industry volunteers making hundreds of visits to House and Senate legislative offices.

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