Switching to a geothermal heat pump system is an eco-friendly upgrade and an opportunity to take advantage of valuable savings; for homeowners in Nashville, TN, the professionals at MJ Frick Co. offer expert geothermal services that can help you qualify for a geothermal tax rebate and local utility rebates. With incentives available through 2032, now is an ideal time to consider this energy-efficient investment for your home.
Here is how you can save with a geothermal tax rebate and how MJ Frick Co. can help every step of the way.
Federal Tax Credit for Geothermal Heat Pumps
Thanks to the Inflation Reduction Act, homeowners in Nashville, Tennessee, who install qualifying geothermal heat pump systems by December 31, 2032, may be eligible for a 30% federal tax credit on the total cost of installation. Known as the Residential Clean Energy Credit, this incentive can help offset the cost of the geothermal system, including labor, equipment, and materials.
This geothermal tax rebate is applied as a credit on your federal tax return and is available for both existing homes and new construction – as long as the system meets ENERGY STAR certification requirements. Homeowners can claim the credit by filing IRS Form 5695, and any unused portion can roll over to future tax years.
After 2032, the tax credit begins to decrease, dropping to 26% in 2033 and 22% in 2034, so it is smart to act sooner rather than later to take full advantage of the savings.
$3,000 Rebate From TVA EnergyRight
In addition to federal incentives, homeowners in Nashville, TN, can also qualify for a $3,000 rebate from the Tennessee Valley Authority’s EnergyRight program when they install a geothermal heat pump system. To be eligible, the system must replace an electric heating source, and the installation must be performed by a Quality Contractor Network (QCN) member like MJ Frick Co.
Combine Tax Credits & Rebates for Maximum Value
One of the major benefits of installing a geothermal system now is the ability to combine both the federal tax credit and the TVA rebate for greater savings. By utilizing both, you can expect to save significantly on the cost of installing a geothermal heat pump in Nashville, TN.
Beyond these savings, geothermal systems are incredibly efficient, reducing monthly energy bills and offering long-term durability with lower maintenance requirements. And if your system ever needs attention, MJ Frick Co. also offers professional geothermal repair services to help keep it running at peak performance.
Why Choose MJ Frick Co. for Geothermal Services?
MJ Frick Co. has decades of experience delivering trusted HVAC solutions, including geothermal services for homes across Nashville, TN. As a certified contractor with TVA’s Quality Contractor Network, our team is qualified to perform installations that help homeowners qualify for the full $3,000 rebate. We handle everything from heating and cooling system design to installation. Whether you are upgrading an old system or installing geothermal for the first time, we are here to provide expert solutions backed by quality workmanship and customer care.
Get Started Before Incentives Expire!
If you are a homeowner in Nashville, TN, now is the perfect time to upgrade your HVAC system and take advantage of valuable incentives, and with MJ Frick Co., you can install an efficient geothermal heat pump system and save significantly with geothermal tax rebates.
Take the next step toward comfort, savings, and sustainability. Contact us at MJ Frick Co. today to schedule a consultation and learn how you can qualify for a geothermal tax rebate before incentives begin to phase out in 2033!
