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President Donald Trump ended several days of uncertainty by signing into law a massive budget, economic stimulus, and COVID-19 relief package. As we mentioned last week, this legislative package includes an extension for commercial and residential geothermal heat pump (GHP) tax credits.
The new law extends the credits for GHP installations through 2023. Residential credits are 26% through 2022, step down to 22% in 2023, and expire Jan. 1, 2024. Commercial credits remain at 10% through 2023.
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