17 Feb '17, 12pm

Geothermal, Small Wind Among Technologies to Benefit Under New Tax Credit Legislation

Geothermal, Small Wind Among Technologies to Benefit Under New Tax Credit Legislation

Reps. Tom Reed (R-N.Y.) and Mike Thompson (D-Calif.) this week reintroduced legislation that would extend through 2021 commercial and residential installation tax credits for geothermal heat pumps, fuel cells, microturbines, small wind and combined heat and power, according to the Geothermal Exchange Organization (GEO). HR 1090 includes a 10 percent commercial investment tax credit and a 30 percent residential income tax credit. These technologies were left out of the tax credit extensions granted in December 2015. Tax credits for these technologies ended on Dec. 31, 2016. "We care about ensuring that we can produce reliable, clean and affordable energy that our nation needs right here at home. By implementing common sense policies like this one, we can ensure that this can be accomplished," Reed said in a statement. "As we move forward with tax reform, having a structure ...

Full article: http://www.renewableenergyworld.com/articles/2017/02/geot...

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