New legislation on the governor’s desk could make geothermal a lot easier in NY State
Two new pills that have passed the State legislature could provide tax incentives to geothermal heat pump (GHP) installations.
GHP systems store water in underground pipes to provide buildings with heating in winter and cooling in the summer. These incentives are designed to put GHP installations on equal tax footing with other renewable resources, establishing a Geothermal Energy Systems credit under the personal income tax. The credit covers 25% of qualified geothermal energy expenditures, and will give New York a tool to lower greenhouse gas emissions and peak demand, while cutting heating and cooling costds for New York residents and business owners.
The first bill grants a tax credit of 25 percent to owners of residential GHP systems, with a cap of $5,000: this is equivalent to the tax credit for solar PV in New York.
The second bill provides a state sales tax exemption for both residential and commercial GHP installations. Both bills passed the State Senate on Earth Day (April 22), and both of them passed the State Senate and the State Assembly unanimously.
YOU can make a difference
If these bills go through, it will be a boon to the geothermal industry across New York State, and make residential geothermal systems much more affordable for New Yorkers.
Governor Cuomo has these two bills on his desk right now, and must sign or veto them by this Friday, November 20th. Please write, email or call the governor to ask him to sign S2905 (geothermal tax credit) and S4279 (geo sales tax exemption), both of which were passed unanimously by the legislature. We CAN move away from burning fossil fuels to heat our homes and buildings!
Calling:
The call is easy; dial (518) 474-1041 and you’ll be asked if you want to leave a message (press 2) or talk with an aide—it’s your choice!
Writing:
Here is a free template you can use to email the governor. Click here for the governor’s online contact form.
Sign the Petition:
NY-GEO has launched a petition to support these initiatives. After you contact the governor directly, you can sign the petition here.
Bill Nowak, Executive Director of the leading industry trade group NY-GEO that worked to pass both bills, is enthusiastic about the potential for synergy between GHP and other renewables. “Starting now, new buildings should be zero net energy propositions. Denmark – which outlawed fossil fuel heating in new buildings in 2013 – has already charted the path humankind must take… The best way to get to zero net energy in most cases is conservation and efficiency, coupled with renewable electricity (mainly wind and solar) and geothermal heating and cooling. Couple those with a renewably-powered electric car, and we’ve got a template for a sustainable future.” — Community Power Network
— infographic via NY-GEO.org