Geothermal Tax Credit Legislation Reintroduced

Published On: March 3, 2017By Categories: Newsline

H.R. 1090, the Technologies for Energy Security Act, reinstating the investment tax credit for commercial and residential installation of geothermal heat pumps among other renewable energy technologies, was reintroduced by Congressmen Tom Reed (R-New York) and Mike Thompson (D-California).

The tax credits expired on December 31, 2016, for several technologies, although solar and wind were given an extension, creating a market disparity.

The  National Ground Water Association will work to urge Congress to reinstate the tax credits either through passage of H.R. 1090 or as a part of comprehensive tax reform when NGWA members are in Washington, D.C. for the 2017 NGWA Groundwater Fly-In. The bill currently has 32 co-sponsors.

Expiration of the tax credits has harmed demand for geothermal heat pumps and created an unequal marketplace for renewable energy technologies.

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