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).
Comprising a significant amount of total heat pump demand
March 29, 2017
Demand for air source heat pumps is forecast to increase 2.5 percent per year through 2021 to $2.1 billion. Air source heat pumps comprise a significant amount of total heat pump demand, largely due to the easier installation requirements and lower initial costs than geothermal heat pumps. Air source heat pumps also compete more directly with other HVAC equipment and are a viable heating and cooling option in most buildings.
While many educational sessions were presented at the Air-Conditioning, Heating, and Refrigeration (AHR) Expo, perhaps the most popular was the course on global HVAC trends offered by the Building Services Research and Information Association (BSRIA).
Energy efficiency, the growing popularity of ductless and variable refrigerant flow (VRF), the evolution of heat pumps into whole-home solutions, and the Internet of Things (IoT) are a few of the major trends influencing products in the residential air conditioning market.
While ductless heat pumps have grabbed the spotlight in recent years, central air-source heat pumps still remain popular, as evidenced by the new products on display at the AHR Expo.
Bob and Tim have responded to a service request where the customer is explaining that their heat pump is running all the time. The indicator light on their thermostat is lit most of the time, indicating the strip heat is on as well. The weather is cold today but has been warm some days and cold some days. It’s a very unusual heating season.
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.