SYRACUSE, N.Y., Nov. 15, 2012 /PRNewswire/ -- Building owners, designers and contractors considering a geothermal heat pump system can now easily determine the associated federal tax credits, using Carrier's new white paper, Geothermal Heat Pump Systems and Federal Tax Incentives. The free paper, available on Carrier.com, provides an overview of the federal tax credit along with a payback analysis for new construction, retrofit or replacement installations, which can deliver tax benefits up to 50 percent of the original project cost in just five years. Carrier, the world's leader in high technology heating, air-conditioning and refrigeration solutions, is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp. (NYSE: UTX).
The Energy Improvement and Extension Act of 2008 expanded the Investment Tax Credit to include geothermal heat pump systems. Under this program, a tax credit of 10 percent of dollars spent can be claimed for geothermal heat pump systems placed in service before the end of 2016.
"A renewable source of energy makes the geothermal heat pump system one of the most efficient heating ventilation and air-conditioning (HVAC) systems available," stated Greg Alcorn, vice president, commercial sales and marketing, Carrier. "Federal tax credit and depreciation deduction incentives increase the appeal of these cost-effective, flexible systems even further."Carrier offers a comprehensive line of geothermal heat pump systems. Carrier ® Aquazone ™ water source heat pump products can be used in all types of water loop, ground water, and ground loop type systems. The units meet or exceed ASHRAE 90.1 efficiencies and boast extended ranges of operation from 20 to 110 degrees Fahrenheit along with a wide variety of options. "Saving energy and reducing cost are at the forefront of our customers' needs," added Alcorn. "Customers are looking for investments that have immediate as well as long-term benefits, and our Aquazone geothermal heat pump systems deliver."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts