Take Advantage of New Federal Tax Credits, urges Heat Pump Installer Take Advantage of New Federal Tax Credits, urges Heat Pump Installer
BriefingWire.com, 1/09/2021 - Springdale, AR: January 9, 2021 - Springdale-based Paschal Air, Plumbing & Electric is raising awareness of a potential opportunity being offered to residents and businesses looking to install ground source heat pumps.
It has revealed that the federal tax credit for residential ground source heat pump installations, set at 26%, is being extended through to December 31, 2022. The residential credit will also be lowered to 22% for systems that are installed in 2023.
Additionally, a 10% credit for commercial ground source heat pump systems will remain at 10% if construction starts before January 1, 2024.