Congress Discontinues Geothermal Heat Pump Tax Credit
New Spending Bill Does Not Include Extension of GHP Tax Credit
The U.S. House of Representatives introduced a stopgap spending bill on Dec. 6 to fund the U.S. government without including an extension of the Investment Tax Credit (Sec. 48) or Residential Energy Efficiency Property Credit (Sec. 25D) for geothermal heat pumps (GHPs).
The Geothermal Exchange Organization (GEO) says it is extremely disappointed with the outcome after a year of intense effort to extend the tax credits, which positively impact geothermal drillers. GEO describes the bill as yet another roadblock for GHPs.