Together with robust state/local incentives available in many markets in the Northeast, geothermal heating and cooling systems will now have both the lowest upfront cost and the lowest ongoing cost of any heating and cooling option for commercial, institutional, and multi-family buildings - while utilizing zero greenhouse gas-emitting fossil fuels!
Inflation Reduction Act of 2022, the $369 billion climate legislation that was signed into law yesterday by President Biden, has an extremely robust set of financial incentives that will now benefit geothermal heating and cooling projects in the built environment. These provisions are going to make installing and incorporating geothermal systems into your buildings extremely financially attractive.
Up to 40% tax credit for the cost of both the ground loop, heat pumps and related HVAC equipment
Tax credits can easily be converted into cash
Let's discuss how Brightcore can help you leverage this climate bill to save money and reach your sustainability goals. E-mail me at Michael.Richter@brightcoreenergy.com to start the conversation.
About Mike Richter: Following a 15-year career with the New York Rangers where he was a three-time NHL All-Star, Stanley Cup Champion and Olympic Medalist, Richter went on to receive his degree in Ethics, Politics and Economics with a concentration in Environmental Politics from Yale University. He has become a key spokesperson for environmental issues, such as resource efficiency and climate change.
He speaks frequently about environmental regulations and public policy before many audiences, including The U.S. Senate Special Committee on the Climate Crises. Mike currently serves as President of Brightcore Energy, a provider of energy efficiency and renewable energy solutions to the commercial market.