GEO Blogs Archive 2015-2018
Why We Went Geo August 16 2016
... I think we made a great choice in investing our money. Since we save about $108 a month, it’s like getting a tax-free dividend check every month regardless of stock market fluctuations! How much do your stocks, bonds and mutual funds pay you?
New York City Gives a Thumbs Up to Geothermal Heat Pumps January 14 2016
The devastation wreaked by Superstorm Sandy in 2012 has had a profound impact on New York City’s residents and elected officials. Since Sandy, the city has been aggressively working to reduce its carbon footprint.
On Dec. 7, 2015, the New York City Council passed the geothermal energy bill Int. 0609-A-2015. On Jan. 7, Mayor Bill de Blasio signed the local law to amend the administrative code of the City of New York, in relation to the use of geothermal energy in the city.
Sponsored by Council Member Costa G. Constantinides, this bill requires New York City to identify and implement geothermal heat pump installations in all its new construction and retrofits when it is shown that doing so would be cost effective.
New York Geothermal Energy Organization (NY-GEO) member Bob Wyman, who testified in favor of this bill, wrote “I believe this is the first time that any major city in the US has adopted legislation requiring the use of the Social Cost of Carbon in making spending decisions.” The bill establishes this cost as starting at $128/per metric ton (based on the high end of the federal government’s estimates) over a 20-year period.
Wyman goes on to suggest “It may also be the first time that a city has committed to evaluating geothermal heat pumps for all new construction and retrofits and using them when cost effective.”
There are three requirements in the geothermal bill:
- Identification of the types of geothermal systems and the buildings for which they would be suitable
- Adoption of rules and registration requirements for those who design and install geothermal systems
- Completion of a feasibility study of waterfront properties suitable for the installation of geothermal systems in marine surface waters.
Part of the identification process would include comparisons of conventional heating and cooling technologies with geothermal heat pumps regarding:
- Greenhouse gas emissions as a result of fuel and electricity consumption
- Impacts on criteria air pollutant concentrations
- Annual electricity consumption and impacts on peak demand reduction
- Potential revenue stream generated from the peak demand reduction using a dollar metric, where applicable
- Fuel and power costs
- Net present value of all alternatives considered, based on a 20-year life expectancy and capital costs, operations and maintenance, fuel costs, available federal, state and other non-city governmental funding assistance, and the social cost of carbon.
The bill also calls for an office or agency designated by the mayor to develop an online, publicly available screening tool no later than February 1, 2017. This tool will be used to determine whether an installation of a geothermal system may be cost-effective for a property.
It also requires:
- Setting up standards for the installation and maintenance of geothermal systems
- Determining qualifications for persons who will design or install such systems
- Maintaining a publicly available registry of such persons
- Informing property owners and installers of geothermal systems regarding the potential benefits of coupling a photovoltaic system with a geothermal system for buildings within the city
- Performing a technical and regulatory feasibility study on implementing a geothermal system for waterfront properties.
Geothermal installations are not new in New York City, but this enthusiastic move forward is. The Brooklyn Botanical Gardens, The Bronx Zoo and the Statue of Liberty are all heated and cooled with geothermal heat pumps. And Cornell University's planned NYC Tech Campus on Roosevelt Island will have a four-acre geothermal well field as part of its goal to be the largest net-zero energy building in the eastern United States.
Those with vision and a determination to deal with climate change are showing us all the way.
For another take on this legislation, see Jay Egg's blog on LinkedIn.
Governor Vetoes Both Geothermal Bills January 14 2016
Governor Cuomo has vetoed the geothermal tax credit and sales tax exemption bills.
This is very disappointing but we are prepared to move forward.
The rationale expressed was that the bills would impact state revenues and the appropriate venue for revenue impacting legislation is in the budget.
Our legislative sponsors are looking to include these measures in the upcoming 2016-17 budget.
The budget will be proposed by the Governor at the beginning of the year and is scheduled to passed by April 1st and to take effect July 1st.
The Governor's comment line remains 518-474-1041 if you wish to express your opinion.
We will be in touch as things develop.
Thanks to all of you who participated in the petitions, letters and calls in support of this initiative.
Please stick with us as we move forward.