Tax Credit Question
We installed our open loop geo system in 2008/2009 and took the 30% tax credit with our 2009 taxes. However, thanks to poor water quality we're switching to closed loop now.
My equipment is fine, quiet, works well.
However, because of the cost of an additional well, and the other associated work to convert, we're considering buying a new piece of equipment. Yes, it's a lot of money to spend when we don't really need the equipment, but if spending an extra couple of thousand dollars makes us eligible for the 30% credit then it would be well worth it.
The question is, does anyone know if you can claim the 30% credit more than once? We know you can claim if for second homes, but what about a second time for the same home? I'm getting conflicting opinions from installers and tax accountants. If anyone has any reference material that they know of I'd appreciate it if you could share.