Acquisition includes ClimateMaster, IEC, ClimateCraft, and ClimaCool
May 12, 2016
NIBE Industrier AB of Sweden and LSB Industries Inc., Oklahoma City, announced that they have entered into a stock purchase agreement by which NIBE will acquire 100 percent of the outstanding shares of The Climate Control Group Inc. from LSB for a purchase price of $364 million.
He’ll represent the national interests of the geothermal heat pump industry
May 5, 2016
By unanimous vote of its directors, the Geothermal Exchange Organization (GEO) has named Joe Parsons of Earthlinked Technologies as its new chairman of the board for 2016-17. He has served on the GEO board of directors since May 2014.
Every year, The NEWS introduces the latest cooling equipment available for the upcoming summer season in order to help contractors prepare for this busy period by doing the research that will help them to distinguish between brands. The coverage features specific information about each individual product as submitted by the manufacturers.
H 3874 provides an income tax credit to any individual or business installing geothermal
March 21, 2016
The law allows a tax credit against the income tax liability of a taxpayer equal to 25 percent of the costs incurred by the taxpayer in the purchase and installation of geothermal machinery in or on a facility in South Carolina and owned by the taxpayer.
Homeowners can receive an instant rebate of $2,000
March 10, 2016
WaterFurnace International Inc., a leading manufacturer of geothermal and water source heat pumps, has announced the return of its SEVENbration savings event for the company’s high-efficiency 7 Series variable capacity geothermal heat pump.
Tightening a home’s envelope may reduce the air supply needed for combustion, and when there’s not enough combustion air, equipment could have combustion ventilation problems. Thus, the people who sealed up homes (often referred to as the weatherization industry) needed a way to determine if sealing a home up would undermine the safe operation of combustion equipment. To meet this safety need, they embraced combustion appliance zone (CAZ) depressurization testing.
The geothermal industry is acutely aware that government-issued commercial and residential tax credits are set to expire at the end of 2016. Currently, geothermal heat pumps in commercial applications are eligible for a 10 percent income tax credit, and residential applications may receive up to a 30 percent incentive.
GHPs may not often be a consumer’s first choice for heating and cooling, but many contractors remain dedicated to the technology, and they’re still finding consumers who want GHPs — even in areas where their benefits are not known as well.
The New York City Council voted unanimously to pass a bill that encourages the installation of geothermal energy and requires that geothermal heat pumps be considered for all new construction and retrofits of city-owned buildings.