Big tax credit makes geothermal affordable: Interest surges in Detroit Lakes area
For the past several years, the federal government has been offering a federal income tax credit of up to 30 percent of the total installed cost of a new geothermal system -- with no cap on the total cost allowed to be included in the tax credit.
"With the federal income tax credit and the rise in fuel and utility costs, interest has dramatically increased," said Modern Heating & Plumbing owner Rick Michaelson. "And that (tax credit) program will remain in effect through 2016.
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