Welcome to the NY-GEO website
Geothermal Tax Credit Chronicles
Click here to see a letter to Governor Cuomo signed by 160+ businesses, organizations and local elected officials
The Federal Government has failed to renew the geothermal tax credits and NY State has no incentives in place. We have asked NY-GEO members to explain what this means to their business. Responses below:
At this point my geothermal sales have fallen off a cliff. I have only one possible sale, and that is in doubt. At this time last year I had six homeowners ready to buy, and ended up with a great 2016. Now I expect that I will have no work for the 4 subcontractors I work with and may not even be able to keep the business open, based on how inquires have stopped coming in.
One thing I have noticed is that air source heat pumps, all made off-shore, are taking the place of made in America geothermal heat pumps, now that the tax credits have dried up. Imported heat pumps that are not nearly as efficient are taking away American jobs.
Contractor - Hudson Valley
When the federal tax credit sunset, installations that had grown to average two a month went to zero!! Now, instead of preparing to hire another employee, I'm going to have to lay off one.
Contractor - Finger Lakes Region
Certainly our 4th qtr heat pump purchases were double over last year…and we had trouble squeezing out units in spite of our manufacturer working double shifts.
We did a survey (49 respondents) which indicated 80% of sales in the last 8 years were dependent on the tax credit.
Entering 2017 is a bit like walking into a dark room and you are not even sure there is a floor in the room.
Here’s a bit of irony, the solar tax credits were passed (a very large percentage of materials are made in China) and geo was not extended (where nearly 100% are made in USA)
Distributor - Central NY
Who We Are
NY-GEO is a nonprofit trade association dedicated to geothermal heating and cooling. Our members include geo designers, installers, manufacturers, drillers consultants and distributors, interested in promoting the use of ground-source heat pumps to heat and cool buildings in New York State.
Geothermal heat pumps (GHPs)* represent a heating and cooling technology that is essential for us to meet the challenges of the 21st Century. The following benefits clearly make the initial capital costs an investment in the future of our local and global communities:
NY-GEO has created a state-wide organization focused on raising the visibility and understanding of the geothermal heat pump technology. As stakeholders, we know that understanding the features & benefits associated with GHP results in a genuine excitement about the technology.
We appreciate your support and encourage you to return often to our web site as we will be going through many changes as the organization gains momentum in the marketplace. Please feel free to contact us for any reason regarding geothermal heat pumps.
* Also known as "ground source heat pumps", "geo-exchange systems" or "low temperature geothermal."
Pictures from the 2016 Conference:
2016 TOP JOB Award Winner:
Guy Wanegar with A&B Cooling & Heating Corp.