While geothermal still represents just a fraction of the overall energy market, a renewed interest in energy efficiency and clean, electric technologies is creating a favorable environment for growth. Per a December 2018 study by Global Market Insights Inc., the global geothermal market is forecasted to reach $4 billion in 2024.
Alongside the big splashy geothermal developments, a smaller geothermal revolution is quietly gaining steam: neighborhood retrofits on ordinary subdivisions.
The NEWS spoke with Doug Dougherty, president and CEO of the Geothermal Exchange Organization, about the impact of the tax credit, trends in geothermal, and GEO’s increased focus on state-level policies.
Contractors and technicians asked for equipment improvements and they found it at Bosch Thermotechnology Corp. The company listened to the feedback from its customers and did some tweaking to make its products save time, energy, and money. These are three important areas for Bosch when it comes to both commercial and residential, especially in product sectors that are more mature than others.
The geothermal market is growing and the HVAC contractor can find it profitable. In order to help contractors just getting into the field or give those who are in the field a few pointers, The NEWS teamed up with AHRI for this geothermal eBook.
The baffling element of the Omnibus spending bill passed by Congress in December 2015 was the lawmakers’ decision to extend residential and commercial tax credits for solar photovoltaics and big wind through 2021, while allowing similar incentives for ground source heat pumps and other “orphaned” technologies to die on the vine.
That landmark in geothermal history was eventually followed by the Commonwealth Building in Portland, Oregon, which became the first commercial building in the U.S. to employ a geothermal system for heating and cooling.
The manufacturers provided us with a brief description of features included with each product. For more information, please contact the manufacturers or their distributors.
The intent of the Heating Showcase is to help contractors prepare for this busy period by doing the research that will help them to distinguish between brands.