The New York Geothermal Organization (NY-GEO) hosted its annual conference April 19-20 in Albany, New York. The event, which registered as the largest in the organization’s history, allowed elected officials, government agencies, and industry professionals from around the world to share the progress being made toward implementation of geothermal heating and cooling technologies.
WaterFurnace Intl. Inc. recently held its 2017 annual sales meeting in Denver, and as you can imagine, the 30 percent residential and 10 percent commercial federal tax credits for geothermal heat pump systems that expired Dec. 31, 2016, were on everybody’s minds.
On April 22, people all over the globe celebrated Earth Day. This holiday serves as a reminder to many that we all need to do our part to preserve the planet. While some plant trees, recycle, or clean parks, the HVACR industry touts the potency of geothermal heating and cooling.
The Luxaire Acclimate Variable Capacity Residential Systems from Johnson Controls Inc. are high-efficiency residential systems with built-in advanced charge monitoring. This quick and accurate means of measuring refrigerant charge saves contractors time.
Since the tax credits went into effect in 2008, many contractors have experienced a significant boost in their geothermal businesses. And, now that the geothermal tax credits have lapsed, contractors and manufacturers are prepared to continue forward without them.
Geothermal credits are being reintroduced in the form of the Reed Bill, legislation introduced by Tom Reed, R-N.Y., Mike Thompson, D-Calif., and 18 additional cosponsors (12 Republicans and six Democrats).
While several organizations lobbied Congress for an extension, the U.S. House of Representatives failed, again, to extend the geothermal heat pump tax credits via a stopgap spending bill signed Dec. 9, 2016.