Rebates & Tax Credits

There are currently rebates and credits for qualifying energy efficient upgrades to your home.

Idaho also has a state loan program where residents can recieve upto $15,000 at a 4% rate for five years. For more information clink on the link below.

For a complete listing go to www.DSIRE.com.

Here are the current credits, deductions and rebates for a qualified geothermal heat pump.

The main credit comes from the federal government in the form of a tax credit. The homeowner will receive a 30% tax credit on the initial cost of everything that makes their geothermal system function, with no price cap. (This excludes ductwork but includes drilling and excavation.) This credit can be combined with state deductions and local utility rebates.

In Idaho, taxpayers recieve an income tax deduction of 40% of the cost of a geothermal system. Taxpayers can apply this 40% deduction in the year in which the system is installed and can also deduct 20% of the cost each year for three years thereafter. The maximum deduction in any one year is $5,000. The total maximum deduction is $20,000.

If you currently have, or are going to have, Avista as your utility provider you will receive a $1500 rebate for the installation of a qualified geothermal system. In Idaho, if Kootenai Electric is your provider you will receive a $3300 rebate. In Washington, if Inland Power is your provider you will receive a $3000 rebate. If you do not see your utility company listed go to www.DSIRE.com, select your state and choose residential incentives.