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What Should Oil City, PA Homeowners Know About Geothermal Heat Pump Tax Credit

Stewart Drilling LLC • January 10, 2018

Tax season is here and there are still a few weeks left to take advantage of some lofty credits available to Oil City homeowners. For the last several years, the IRS has allowed numerous tax breaks for homeowners who upgraded their home with energy efficient appliances and units. Windows and doors were a popular upgrade choice, but this credit expired at the end of 2016 and it was capped out at $500 per household.


What is a Geothermal Heat Pump?

A geothermal heat pump is a very cost effective way to heat and cool your home. It is similar to an ordinary heat pump, but it uses energy from the ground instead of the air. It provides heating, air conditioning, and hot water to your home.


While the upfront cost for a geothermal unit is more than a traditional HVAC system, it’s one of the most efficient and comfortable heating and cooling technologies available today.


All About the Geothermal Heat Pump Tax Credit

The good news is that geothermal units can give homeowners a significant tax break this year—in fact, it’s a much bigger break than what you’d receive with upgrading your entry door or replacing a few windows.


The geothermal heat pump tax credit offers homeowners a 30% break on their taxes. This means that 30% of the cost of your new geothermal unit is deducted from your taxable income. Since geothermal units are a large investment for a lot of homeowners, this can result in a significant tax break for those filing in 2016.


Missed the 2016 Tax Credit? You Can Still Save Money

If you missed the geothermal heat pump tax credit after the December 31, 2016 deadline, not all hope is lost in terms of saving money. The good news is that homeowners can experience significant energy savings with this technology all throughout the year. You’ll enjoy a home that’s more comfortable during the summer and winter months, and you won’t need to worry about skyrocketing utility bills draining your bank account.


Stewart Well Drilling installs energy efficient geothermal units for heating and cooling. Contact us today for more information by calling (724) 658-4488 or e-mail us at elmer@stewartwelldrilling.com.

An aerial view of a house with a heat pump in the ground.

What is a Geothermal Heat Pump? A Guide for Oil City, Pennsylvania Homeowners

By Stewart Drilling LLC • January 10, 2018
When you’re looking for energy efficient ways to control the temperature of your home, you’ll ultimately end up discovering the geothermal heat pump. A geothermal heat pump is one of the best ways to keep your home more comfortable here in Oil City, but many homeowners don’t fully understand what it is and how it operates.
A room with a heater and a lot of pipes

What is an Alternative to Gas Heating Systems in New Castle, PA

By Stewart Drilling LLC • January 10, 2018
Summer is coming to a close and the hot summer season will soon be behind us. As New Castle, PA homeowners prepare for the cold months ahead, there are often a lot of questions asked about the best way of heating your home. Many homeowners are looking to save money on utility bills, but they don’t want to break the bank with expensive options such as gas heating systems. Is there a better way to heat your home?
An excavator is digging a hole in the snow.

What Happens During Wintertime Well Drilling in Oil City, Pennsylvania

By Stewart Drilling LLC • January 10, 2018
Winter in Oil City, PA is notorious for freezing temperatures and excessive amounts of snow. If you take a shovel to your yard during the dead of winter, you’ll quickly discover that it’s very difficult (if not impossible) to get your shovel through the ground. However, just because it’s winter doesn’t mean that well drilling comes to a stop.
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