Presentation Title:
Geothermal For The Win: Tax Credits, Operational Savings, and Energy Conservation
Track C- Decarbonization and Electrification Strategies
Session C1: Clean Power, Real Impact: The Rise of Renewable Technologies
Day 1Â 2:00 pm
Speaker(s):
Abstract:
| The Inflation Reduction Act will result in the distribution of more than $1 Trillion in incentives through 2032, and one of the biggest beneficiaries will be the Geothermal industry. Ground-source HVAC systems have long been desired by organizations wishing to heat and cool their buildings efficiently, but the initial cost often made such projects unviable. Federal incentives have redefined the financial aspect of geothermal projects: first cost is now more in line with (and frequently less expensive than) conventional HVAC systems. Building owners – including public and non-profit entities – now have the opportunity to meet their energy conservation and electrification goals while realizing significant operational cost savings. This session will include: -Estimating Federal Credits and Incentives for geothermal projects -Discussion of which components of a geothermal HVAC system are eligible for credits -How non-profits and government entities are also eligible -Case studies |