As part of the Emergency Economic Stabilization Act of 2008, HVACR tax incentives for homeowners and businesses were extended. With the new American Recovery and Reinvestment Act of 2009, the $2000 tax credit limit has been removed. Key information is as follows:
The new legislation covers installations from January 1, 2009 through December 31, 2016.
Homeowners who install geothermal systems may be able to claim up to 30% of the installed cost in tax credits in the year the system is placed into service. (Capped at $2000 for system installed in 2008 – No cap for 2009 and beyond).
An extension of the Commercial Building Tax Deduction until 2013 that allows building owners to deduct up to $1.80 per square foot for improvements in overall performance.
To investigate your state incentives visit the Database of State Incentives Renewables