Just In:
As part of the stimulus package (which should be signed at 2 PM EST today), new geothermal HVAC and solar thermal that is installed will have a 30% cost credit up to $2000 for each house. Now, there is not a cap! This is retro to the beginning of the year and will be good until 2017.
Here is how it works:
Solar Thermal retail (sample): $8,000
GA tax credit 35% up to 2.5K $2,500
FED tax credit 30% of total cost: $2,400
Net cost to consumer: $3,100
Note: Solar thermal is 4-5 times as efficient as a gas tankless water heater and the payback is typcially 3-4 times as fast as well.
Geothermal retail (sample) $30,000
GA tax credit $2,000
Fed tax credit 30% of cost $9,000
Net cost to consumer $19,000
Note- geothermal HVAC is more than 2x as efficient as the typical 13SEER HVAC that the energy code requires. The net cost of the upgrade is less than 2x so you are saving more now than you have to pay for this system.
Here is the draft that I received:
