30% Tax Credit for Geothermal residential installations
The Residential Clean Energy Credit equals 30% of the costs of new, qualified clean energy property for your home installed anytime from 2022 through 2033. You may be able to take the credit if you made energy saving improvements to your home located in the US.
The credit is non-refundable, so the credit amount you receive can’t exceed the amount you owe in tax. You can carry forward any excess unused credit though and apply it to reduce the tax you owe in future years. Do not include interest paid including loan origination fees.
You can claim the annual credit every year that you install eligible property until the credit begins to phase out in 2033.
For more information visit, www.irs.gov