SC State Tax Incentive (25%, ends 2021)
The 25% SC Income Tax Credit was signed into law in February 2016. The tax credit applies to residential geothermal installations from January 1, 2016 to December 31, 2018. This was renewed in 2019 to end 12/2021
- Installation must be in South Carolina and owned by the taxpayer.
- The tax credit cannot exceed $3,500 for residential property or 50% of the total tax liability for the tax year.
- For credits exceeding $3,500, the remaining amount can be carried over to the next tax year for up to 10 years.
For full details consult your tax accountant and contact our Geothermal specialists
Federal Tax Incentives (up to 30%, ends 2021)
30% federal tax credit for residential geothermal heat pumps for installations 2017 through 2019, 26% for 2020 and 22% for 2021.
10% credit for qualifying commercial geothermal installations.
For more details check out our news section “Federal Tax Credit for Geothermal Returns”.
- Information about the “Incentives for Renewables and Efficiency”
1. Financing with GEOSmart®
WaterFurnace makes with the GEOSmart program multiple interesting and money saving financing tools avalable.
Contact the Carolina Heating Geo specialists
2. Financing with Wells Fargo Home ProjectsTM
Carolina Heating Service Inc. has teamed up with Wells Fargo Bank N.A. to provide you, the customers the financing support you deserve for your heating and air conditioning project:
Also talk to the sales associate you are working with, whether there are special finance options we have not published here