GEO Seeks Federal Tax Credit Extension for Geothermal
The Geothermal Exchange Organization (GEO) has formally urged Congress to extend federal tax credits for residential and commercial geothermal heat pump (GHP) installations. The credits currently expire at the end of 2016, and GEO seeks their extension through 2020.
“Buildings are the largest single sector of total U.S. energy consumption. GHPs can efficiently and significantly reduce the heating and cooling loads of buildings, with positive benefits for our environment and economy,” GEO President and CEO Doug Dougherty said in comments to the U.S. House of Representatives Ways and Means Committee in mid-April.