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Learn about capital credits, equipment rebates and federal tax credits

Posted on Oct 04 2020 in Orange County REMC
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CAPITAL CREDITS: Orange County REMC is a not-for-profit, member-owned electric cooperative. That makes us VERY different than most utilities. If we have money left over after paying expenses, we keep track of how much of it is your share. We invest that money in the cooperative, and after a period of time, we pay that money back to you, our members. These payments are called capital credits. We have a list of unclaimed capital credits published on our website. Visit www.myremc.coop to see if your name, or someone you know is listed. 

REBATES: Your co-op offers incentives and rebates for members who install energy efficient equipment in their home or business. But you need to act fast. The deadline to apply for an Orange County REMC rebate for energy efficient HVAC and water heating equipment is Dec. 15. Get more info and an application at our website, www.myremc.coop. 

GEOTHERMAL TAX CREDIT: The federal tax credit for purchasing a geothermal HVAC unit has been extended until 2022, but is being stepped down each year as follows:

  • 26% for systems placed in service after Jan. 1, 2020, and before Dec. 31, 2020
  • 22% for systems placed in service after Jan. 1, 2020, and before Dec. 31, 2020

Get more information about geothermal and other renewable energy tax credits at https://www.waterfurnace.com/literature/collateral/