Comments on: Green Tax Rundown

By: John Foraste

John Foraste — Fri, 18 Dec 2009 19:38:16 +0000

Please note that the geothermal tax credit is very significant: 30% of the total investment for homeowners. It was this credit that is making it possible for us to put in a geothermal system!

There’s another credit which may benefit some: $6500 tax credit for repeat home buyers. Check out the fine print at http://www.federalhousingtaxcredit.com/faq2.php

By: David Hamilton

David Hamilton — Thu, 17 Dec 2009 16:30:01 +0000

Bundoran resident John Foraste has pointed out the that the alternative energy credit I mentioned in this post can go toward geothermal. John is building a home here at Bundoran Farm, and has an excellent builder, Artisan Construction, who notified him of the tax credit opportunity, the availability of which tipped him toward a geothermal system.

Interesting side note, the Baldwin Center does not feature geothermal heat. Operating on a tight budget, without the tax credit (commercial building), we designd a system, but couldn’t make the payback work.

Here’s John’s manufacturer’s information on credit-eligible systems:
http://www.waterfurnace.com/tax_credits.aspx?gclid=CK-nmNb5-JwCFRHxDAodXRv6aw

And here’s the relevant federal tax code: http://www.dsireusa.org/documents/Incentives/US37Fa.htm

Thanks for the update, John… dh

By: David Hamilton

David Hamilton — Wed, 02 Dec 2009 14:52:43 +0000

Thanks to Grady Lewis for correcting my blog entry, which has been updated to reflect the distinction between credits allowed for new construction, and for renovation.