HR 1090 reinstitutes and extends through 2021 commercial and residential installation tax credits for geothermal heat pumps. Included are a 10% commercial Investment Tax Credit under Sec. 48 of the tax code under Sec. 25D.
The commercial tax credit will remain at 10% through 2021. The bill also changes “placed in service” language in the tax code to “construction of which begins before Jan. 1, 2022” for commercial projects, ensuring consumers can enjoy the tax credit benefits right up to their new expiration date.