Tax Benefits Are Extremely Significant for the Commercial Geothermal Heat Pump Market
October 20, 2014
The Geothermal Exchange Organization (GEO) announced that it is actively supporting “tax extenders bills” that are now under consideration by the U.S. House of Representatives and in the U.S. Senate. The bills would reinstate and extend several tax incentives for geothermal heat pumps that expired last year.
Organization Intends to Raise the Profile of Geothermal Heat Pumps
September 8, 2014
In early August, geothermal heat pump (GHP) stakeholders put the finishing touches on the New York Geothermal Energy Organization (NY-GEO) — a new not-for-profit trade association founded by 67 members that promises to increase market penetration and sales across New York state.
Doug Dougherty said that even though getting GHPs included in the federal definition of renewable energy is one of GEO’s major issues, its efforts at the state level will not be deterred by a lack of recognition at the federal level.
Bill Provides Financial Incentives for Several Thermal Renewable Energy Heating and Cooling Alternatives
August 15, 2014
The Massachusetts House of Representatives has passed a comprehensive renewable thermal energy bill that will promote the use of clean renewable fuels and technologies for heating and cooling. Passed earlier by the Massachusetts Senate, the bill is expected to be signed by Gov. Deval Patrick and go into effect on Jan. 1, 2015.
Optimism remains high that the federal government will extend existing tax credits beyond 2016, and local utilities and state governments will start (or continue) offering incentives to encourage homeowners to invest in GHPs.
One of the Leading Heat Pump Manufacturers in Europe to Purchase North American Manufacturer
June 23, 2014
WaterFurnace Renewable Energy Inc. and NIBE Industrier AB of Sweden announced that they have entered into an agreement whereby NIBE will acquire 100 percent of the outstanding shares of WaterFurnace by way of a plan of arrangement under the Canada Business Corporations Act.
International Award Is Granted Every Three Years by the IEA Heat Pump Program
June 10, 2014
Daniel Ellis, president of geothermal and water-source heat pump manufacturer ClimateMaster, was presented with the Rittinger Medal at the 11th International Energy Agency (IEA) Heat Pump Conference in Montreal.
Acquisition Expected to Provide Synergies to Both Companies
May 7, 2014
WaterFurnace Renewable Energy Inc. announced that it has entered into an agreement to acquire the assets and technology of Chillit Chillers, Goshen, Indiana, a manufacturer of specialty chillers and geothermal heat pumps for large commercial and industrial applications.
Orca Will Install Ground Heat Exchanger at No Expense, Serve Homeowner as a Separate Utility Provider
February 11, 2014
Bosch Thermotechnology has signed an agreement with Orca Energy, a leading geothermal utility provider, to jointly market a geothermal ground heat exchanger and equipment solution to developers, home builders, and new home buyers in the United States.