Save Money with Geothermal Why not maximize the readily available energy located just a few feet underneath the surface of your own property? A geothermal system can use one unit of electrical energy to generate an amazing five units of energy. But what does that mean for you? It means you can condition your Scranton home for much less than your neighbors and friends. The equipment we put in your home is the most economical geothermal products on the market today. Homeowners can actually get savings up to 70% for heating, cooling, and hot water! Act now to save even more with the Energy Credit In February 2018, the the 30% federal tax credit was reinstated through 2019 and can be retroactively applied to installations “placed in service” on January 1, 2017 or later. Property is usually considered to be placed in service when installation is complete and equipment is ready for use. However, if the system is part of the construction or renovation of a house, it’s considered placed in service when the taxpayer takes residence in the house. To save the most on your installation, you’ll want to act quickly—this credit is set to decrease each year through 2021 with the amount dropping to 26% in 2020 and 22% in 2021. Read all about it in this blog and in our special flier, Understanding the Federal Tax Incentives for Geothermal Heat Pumps.