Advocacy

Washington Update

July 14 – The Senate Finance Committee plans to mark up a bill on July 21 to extend corporate tax benefits that expired in 2014 and those that will expire at the end of this year, including those that benefit the geothermal heat pump (GHP) industry. Among other things, they include: Bonus depreciation that allows […]

Senate Dems Offer Tax Credit Extension Bill

July 14 – Sen. Brian Schatz (D-HI) and co-sponsors Sen. Martin Heinrich (D-NM), Dianne Feinstein (C-CA), Cory Booker (C-NJ), Al Franken (D-MN) and Sheldon Whitehouse (D-RI) introduced legislation to extend the Sec. 25D Residential Energy Efficiency Property Credit for five years beyond its sunset date of Dec. 31, 2016.The tax credit applies to residential rooftop […]

GEO Joins Investment Tax Coalition

July 10 – The Geothermal Exchange Organization (GEO) joined over 30 companies and associations in signing a letter from the Investment Tax Coalition to the Senate Finance and House Ways and Means committees. The letter asks for a five-year extension of the Sec. 48a Investment Tax Credit (ITC) as they consider business “tax extenders” (pg. […]

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GEO Continues Push for State Actions

The Geothermal Exchange Organization (GEO) is backing efforts in a number of states to change public policies that currently fail to recognize geothermal heat pumps (GHPs) as a renewable source of energy and an efficient way to satisfy the thermal loads of buildings. “I wish we could have a cookie-cutter approach for each state and […]

NY-GEO logo

NY-GEO Pushes for Geo Tax Credit

The New York Geothermal Energy Organization (NY-GEO) has successfully worked with State Assemblymember Sean Ryan (D – District 149) to introduce Assembly Bill 2177-A, “An act to amend state tax law, establishing a credit for geothermal energy systems.” Sen. Robert Ortt (R-62nd Senate District) introduced identical companion legislation, Senate Bill 2905, on Jan. 30. Starting […]

Iowa Geothermal Association

Iowa Bill Seeks Bigger Geothermal Heat Pump Tax Credit

Iowa Rep. Dawn Pettengill (R) introduced a bill (HF226) in the Iowa House of Representatives to increase an existing state tax incentive for geothermal heat pump (GHP) installations. Current law allows an individual income tax credit for a GHP system equal to 20% of the federal residential energy efficient property tax credit for GHPs. HF226 […]

Michigan Bill Includes Geothermal Heat Pumps as Renewable Energy

State Rep. Aric Nesbitt (R-66th District) introduced Michigan House Bill No. 5980, which will amend the state’s Renewable Energy Standard— Michigan 2008 PA 295, the “Clean, Renewable, and Efficient Energy Act.” Michigan enacted Public Act 295 in October 2008, requiring the state’s investor-owned utilities, alternative retail suppliers, electric cooperatives and municipal electric utilities to generate […]