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30% Federal Tax Credit on GeoThermal Heat Pumps
Saving Americans Money on Renewable Energy Improvements
What is the Tax Credit?1
The Residential Clean Energy Tax Credit covers 30% of the total system cost, including installation, of GeoThermal heat pumps meeting the requirements of the ENERGY STAR program. Under the One Big Beautiful Bill Act (OBBA) passed in July 2025, the new GeoThermal system must be placed in service before January 1, 2026. The 30% tax credit may also be retroactively applied to GeoThermal systems placed in service on January 1, 2022 or later.
Residential Tax Credit
You’ll want to act soon to save the most on Your GeoThermal installation. You may qualify for a 30% tax credit for property placed in service after December 31, 2021 and before January 1, 2026.
Learn more about the residential tax credit
Commercial Tax Credit
The commercial tax credit is extended under a two-tier structure:
- A “base rate” of 6% (or 1/5 of the bonus rate)
- A “bonus rate” of 30%
The tax credit will reduce in 2033 and again in 2034, so you will want to act soon to make the most of the available savings.
Credit for commercial geothermal installation rates:
| 30% Bonus / 6% Base through 2032 |
26% Bonus / 5.2% Base through 2033 |
22% Bonus / 4.4% Base through 2034 |
How Do I Apply?
To claim residential tax credit, fill out IRS Form 5695 and file it with your tax returns. You can get the 2024 Form 5695 here. If you have already filed your return, you will need to file an amended return (Form 1040X) to claim these credits. Save your receipts and the Manufacturer’s Certification Statement2 for your records. Please contact the IRS directly, or talk to your tax professional, with questions on how to file. Also, please refer to ENERGY STAR’s resource: Changes to requirements for claiming the Energy Efficient Home Improvement Tax Credit in 2025
To claim the commercial tax credit, consult with your tax professional, or contact the IRS directly.
Learn More about the GeoThermal Federal Tax Credit
Call Symbiont Service for a Free Quote on a GeoThermal Air Conditioning System. 941.474.9306
1 Disclaimer: The tax credit information contained within this website is provided for informational purposes only and is not intended to substitute for expert advice from a professional tax/financial planner or the Internal Revenue Service (IRS). The information was adapted from documents published by GeoExchange and WaterFurnace following the passage of the Inflation Reduction Act in August 2022. Statements on this page are being finalized by the federal government and are subject to change and interpretation. To understand what you qualify for, please see your tax professional.
2 A Manufacturer’s Certification Statement is a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit. Manufacturers should provide these Certifications on their website. Call the manufacturer, or search their website. EPA does not have copies of the Manufacturer’s Certification Statement. Taxpayers must keep a copy of the certification statement for their records, but do not have to submit a copy with their tax return.
Sources:
- CBS News – Cunningham, M. (August 19, 2025).Clean energy credits are set to expire. Find out how much you can claim before they end. CBS News.
- WaterFurnace – Tax Credits & Incentives. (n.d.). WaterFurnace.
- ENERGY STAR (EPA) – Geothermal Heat Pumps Tax Credit. (n.d.). ENERGY STAR.
