Increases the amount of geothermal energy systems tax credits

This bill increases tax credits for individuals installing geothermal energy systems. It allows a 25% credit on qualified expenses, raising the annual cap to $5,000 for systems installed before June 30, 2025, and $10,000 for systems installed on or after July 1, 2025. Additionally, it makes excess credits refundable for low-to-moderate income taxpayers or those in designated disadvantaged communities starting in 2026, treating unused credits as tax overpayments. The credit can also be carried forward for up to five years if it exceeds annual tax liability.