Ray is single with a yearly income of $130,000. He is considering installing a geothermal...

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Accounting

Ray is single with a yearly income of $130,000. He is considering installing a geothermal heat pump system in his home in 2024. He is interested in claiming the Residential Clean Energy Credit. What is the credit percentage he can claim for the geothermal heat pump system in 2024?
He cannot claim a credit because geothermal heat pumps aren't allowed for the Residential Clean Energy Credit
He cannot claim a credit because his income was too high
He cannot claim any credit as the program expired in 2023
He can claim a 30% credit for tax year 2024

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