Bill > HB248

This bill establishes a tax credit for Georgia homeowners who install geothermal heating and cooling systems in their residential dwellings. Specifically, the bill provides a tax credit equal to 25% of eligible geothermal installation expenses, with a maximum of $5,000 per year and a total credit limit spread over five taxable years. Qualifying installations must be placed in service after January 1, 2026, and meet federal Energy Star requirements, including heat pumps that use ground or ground water for heating and cooling, or systems that use the earth's internal heat as an alternative energy source. Taxpayers can only claim this credit once per dwelling, and the total statewide tax credit allocation is capped at $2.5 million annually. To claim the credit, homeowners must submit a preapproval application to the state department, which will review and process applications on a first-come, first-served basis. The tax credit program will be in effect from January 1, 2026, until December 31, 2031, after which it will automatically expire. The bill aims to incentivize residential adoption of energy-efficient geothermal technology by providing financial support to homeowners who invest in these environmentally friendly heating and cooling systems.

Budget and Finance

https://www.legis.ga.gov/legislation/69853