How do I qualify for the Federal Tax Credits for a New Geo-Thermal Heat Pump?
In order to qualify for a Federal Tax Credit for purchasing a new Geo-Thermal Heat Pump you must follow the criteria set by Energy Star. To qualify for the tax credit the Geo-Thermal Heat Pump must have the following specifications. If the unit is a Closed Loop Unit then it must have EER or 14.1 and a COP of 3.3. If the unit is an Open Loop then it must have an EER of 16.2 and a COP of 3.6. If the unit is a Direct Expansion then it must have an EER of 15 and a COP of 3.5. You will receive 30% tax credit and you must file a 5695 IRS Form in order to get the tax credit. In order to qualify the heat pumps must be placed into service by December 31, 2016. One of the qualifying Geo-Thermal Heat Pumps that you can look at is the Carrier GT-G Geo-Thermal Heat Pumps. They meet the requirements and they are designed to help you save money.
