Tax credits are available for individual taxpayers who install energy-efficient property in their residences. Section 25D(a) provides for a credit against a taxpayer's income tax equal to 30 percent of the expenses incurred for installing certain energy-efficient property in a qualified dwelling unit. Properties eligible include solar electric, solar water hearing, fuel cell, small wind energy, and geothermal heat pump property.

There are many requirement to meet the definition of qualified property, dwellings, and even labor and warranty standards. Many of these will also require testing for efficiency to meet the EPA's Energy Star Program.

To find out more, please read the following article from our affiliate McGladrey / RSM. http://rsmus.com/what-we-do/services/tax/lead-tax/tax-adviser-2015-lead-tax-clinic-articles/claiming-the-residential-energy-credit-for-geothermal-heat-pump-.html. This article mostly focuses on geothermal heat pumps, and offers some information on the history of the change.

For more information about how this can apply to you, please contact Eric Bell at 541-342-5161