Carrier was recently allocated a $5.1 million Qualifying Advanced Energy Project tax credit (Project Credit) to expand production at its Indianapolis facility to meet increasing demand for its high-efficiency gas furnace line.
Though industry leaders agree that the provisions will probably be renewed, it may not happen for a while, which would again leave some manufacturers, distributors, and contractors in limbo.
With just three years left to encourage homeowners to invest in geothermal advances, manufacturers are pulling out all the stops by introducing new features on their GHPs, such as variable-speed technology and sophisticated controls, which they say will provide homeowners with better comfort, as well as lower energy consumption and operating costs.
The Departments of Energy and the Treasury recently announced they will be reallocating more than $150 million in tax credits for investments in manufacturing facilities for clean-energy technologies in Phase II of the 48C Advanced Manufacturing Tax Credit.
Rep. Jim Gerlach, R-Pa., recently visited DiFilippo’s Service Co. in Paoli, Pa., to better understand the concerns of small-business owners in his district.
January Online Poll: The 25C tax credits for high-efficiency HVAC and water heating equipment were retroactively reinstated for equipment installed during the past year as well as going forward in 2013. Will this help your business?
In the next five years, revenue growth of the solar water heater installation market is forecast to strengthen on the back of rising corporate profit, booming housing starts, and technological advances that will make solar water heaters more economical, according to a report from industry research firm IBISWorld.
While the so-called fiscal cliff legislation affects the HVACR industry in a variety of ways, the most significant change may be the retroactive extension of the 25C Residential Energy-Efficiency Tax Credit, which expired Dec. 31, 2011.
Legislation that Congress passed and President Obama signed into law to avoid the so-called “fiscal cliff” also retroactively reinstated the 25C tax credits for high-efficiency HVAC and water heating equipment that expired at the end of 2011.
The past 12 months saw continued economic challenges for many American industries, including those in the renewable energy field, but the country’s geothermal community witnessed a year of growth, both domestically and abroad, according to the Geothermal Energy Association (GEA).