Geothermal System Installation Rebates
North Carolina Tax Credits of 35%*
North Carolina Renewable Energy Tax Credits Tax credit up to 35% of the cost of geothermal HVAC units installed after 1/1/2009 and before 12/31/2015 for both residential and commercial properties. Eligible costs include: equipment, associated design construction costs, and installation costs. The Geothermal systems must be new and meet the specified Energy Star ratings. The US Department of Energy has an informative page with links to the required tax forms and filing instructions near the bottom of the DSIRE – North Carolina page.
Federal Tax Credits of 30%*
The Energy Improvement and Extension Act of 2008 provides a tax credit of 30% to homeowners who install a geothermal system on their property. The property must be residential property, but does not need to be the primary residence. The 30% tax credit counts toward the heat pump, ground loop, related equipment, and all labor costs including any other plumbing, wiring and/or ducting needed to make the system work. The system must meet or exceed current Energy Star requirements. This legislation is good for installations placed into service from 1/1/2009 through 12/31/2016.
In North Carolina there are also rebate programs through Progress Energy and Duke Energy. For Progress Energy customers, contract with one of their pre-qualified HVAC installers, install a qualifying Geothermal HVAC unit and get a $300 rebate check! For more information see Progress Energy’s Home Energy Improvment Program page or Duke Energy’s Smart $aver page.
*Always consult your accountant or tax professional to make sure you qualify