Action Could Help Avoid Geothermal Heat Pump Tax Increase
One of our most promising sources of renewable energy — geothermal heat pumps (GHPs) — is rapidly approaching a crossroads. This pending watershed moment is not technical in nature, nor is it environmental. Geothermal heat pump (GHP) technology is ramping up exactly as hoped, according to the Geothermal Exchange Organization (GEO), and represents one of the most energy efficient and environmentally friendly options for heating and cooling buildings.
The organization points out that an important challenge is facing geothermal today and it relates directly to Congress. Time is running out on the renewable energy tax credits for commercial and residential GHPs, which expire at the end of 2016.