Not only is installing a geothermal heat pump energy efficient and great for the environment, there are also some incredible savings available to homeowners who take advantage of Iowa State Geothermal Tax Credit. Get a 400% efficient geothermal system that will save you 70% on your annual heating, cooling and hot water bills by using the thermal energy stored deep in the ground.  For Iowa homeowner’s, the cost to purchase and install a geothermal system is an affordable option to responsibly heat, cool and heat hot water when you combine your state tax credit, utility incentives and Rabe Hardware’s same-as-cash financing options.

 

Iowa Geothermal Tax Credit
10% Iowa State Tax Credit

On April 29, 2016 the Iowa Legislature passed HF 2468, which provides for a 10 percent standalone tax credit for residential installations of geothermal heat pumps (GHP). Under the legislation, a “qualified geothermal heat pump property” means any equipment that uses the ground or groundwater as a thermal energy source to heat the dwelling unit of the taxpayer or as a thermal energy sink to cool such dwelling unit, which equipment meets the requirements of the federal energy star program in effect at the time that the expenditure for such equipment is made.

The 10% Iowa geothermal tax credit takes effect January 1, 2017.  The measure is not capped, and does not offer a tax credit for commercial installations.


Iowa Geothermal Utility Rebates
10% Iowa State Tax Credit

On April 29, 2016 the Iowa Legislature passed HF 2468, which provides for a 10 percent standalone tax credit for residential installations of geothermal heat pumps (GHP). Under the legislation, a “qualified geothermal heat pump property” means any equipment that uses the ground or groundwater as a thermal energy source to heat the dwelling unit of the taxpayer or as a thermal energy sink to cool such dwelling unit, which equipment meets the requirements of the federal energy star program in effect at the time that the expenditure for such equipment is made.

The 10% Iowa geothermal tax credit takes effect January 1, 2017.  The measure is not capped, and does not offer a tax credit for commercial installations.