July 6, 2018
Filed Under: Affordable Housing

Whisper Valley Homes Eligible for Solar and Geothermal Tax Credits

Whisper Valley Phase II AmenitiesWhen you buy in Whisper Valley, you’re purchasing a zero-energy capable EcoSmart home.  You’ll not only be doing your part to save the planet, but you’ll also be saving a great deal of money as well. The federal spending bill passed by Congress includes an array of tax credits designed to benefit homeowners who invest in renewable energy. Learn more about how Whisper Valley homeowners can take advantage of these solar and geothermal tax credits:

Solar and Geothermal Incentives

The recent incentives approved by the government are now beneficial to Whisper Valley residents in two ways. Not only will you receive a tax credit for your home’s solar photovoltaic (PV) system, you’ll also receive a tax credit on the geothermal equipment that is on your lot and in your home.

This includes the ground-source heat pump (including installation) that drives the geothermal heating and cooling system in your home. As of 2020, the current law allows you to write off 26% of the value of both systems.

If the credit is more than you owe in taxes the first year, the remaining tax credit can even be used to reduce your taxes the following year. EcoSmart Solution can provide the tax forms and value information, but consult your tax preparer to ensure accuracy when filing your tax return.*

Preserve Both Natural and Financial Resources

Learn about all the sustainability and economic benefits of becoming a Whisper Valley resident. For more information, visit WhisperValleyAustin.com or call (512) 710-3799.

*EcoSmart Solution provides general information about the available tax credit programs only. According to Section 25 D of the Internal Revenue Code, Title 26 of U.S. Code, and per the 2017 instructions for IRS Form 5695, there is allowed a tax credit in the amount of 26 percent of qualified solar electric and/or geothermal heat pump property expenditures.

Actual tax savings will depend on personal income and size of home. ESS is not an accountant or tax expert, and is not providing tax consulting advice. We advise each homeowner to consult with their tax preparer to ensure accuracy in calculating the tax credit and to achieve the maximum benefit.