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. 1). Among other energy alternatives, the provisions affect geo-thermal heat pumps in commercial installations. The letter emphasizes: “Advanced energy technologies require years of research and development, trials, manufacturing/production, and scaling to cultivate a concept into a commercialized, established business. The ITC has been critical in incentivizing initial early adopter demand to ultimately drive their cost down and establish them in the marketplace.” (GEO)