The Perfect Storm
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The Perfect Storm
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| Background: The $700 billion bailout legislation that was signed into law on October 3, 2008 was called the Emergency Economic Stabilization Act of 2008, H.R. 1424. It contained long-term tax incentives to encourage the use of renewable energy technologies in both homes and businesses. The energy technologies included solar electric generation, fuel-cell electric generation, wind electric generation, and geothermal heating and cooling. The residential geothermal tax credit was 30% of the cost of the geothermal heat pump system up to a maximum of $2,000, and the commercial building geothermal tax credit is 10% of the cost of the geothermal heat pump systems with no cap. Both the residential and commercial building geothermal tax credits are available until the end of 2016. A Huge New Incentive: The $787 billion Stimulus Bill signed in February, 2009 removed the $2,000 cap on the residential geothermal tax credit! So now, if a homeowner retrofits a closed-loop geothermal heat pump system to replace their heating oil or gas hot-air furnace, the $20,000 that they spend is now going to generate a $6,000 tax credit. The entire retrofitted closed-loop geothermal heat pump system will cost them only $14,000! If you thought that the $2,000 tax credit was going to supercharge the geothermal heat pump industry, imagine what the full 30% tax credit is going to do. Remember, a tax credit is subtracted from the tax that you owe the IRS; it is not a tax deduction that just reduces your taxable income. So, now more than ever, it is time to grow your business into the geothermal heat pump industry. By successfully completing this new IGSHPA Accredited Drillers Training Course PLUS and the open-book exam, you will become an IGSHPA Accredited Vertical Loop Installer. This new IGSHPA Accredited Vertical Loop Installer credential will tell your potential geothermal customers that you have demonstrated your knowledge of constructing vertical, closed-loop geothermal heat exchangers and your knowledge of installing the geothermal heat pump system equipment. Who should attend? Water-well drilling contractors, drilling company owners, drilling company project managers, drilling company administrators, loop-field design engineers, hydrogeologists and environmental engineers, suppliers to the geothermal industry, and anyone else with a professional interest in geothermal heat pump systems, vertical geothermal heat exchanger design and installation, loop field production drilling techniques, and geothermal loop installation procedures. This course in not just for well drillers! Even if you are already doing geothermal work, becoming an IGSHPA Accredited Vertical Loop Installer by taking this course and passing the exam will make you stand out from your competition and thereby help your business grow. This course in designed for drillers who are currently doing geo work and is designed for drillers who have not done their first geo job. If you are an environmental consultant, you will benefit from this course by learning how to grow your consulting business into geo. Why the boom in the geothermal heat pump industry? This Drillers Training Course is designed to help water-well drillers grow their water-well drilling business into GeoExchange borehole and loop field production drilling. The GeoExchange industry has seen an abundance of growth in recent years, and there is new a “perfect storm” brewing in the well-drilling industry. The “perfect storm” components are a) the abundant availability of drill rigs due to the precipitous decline in new home construction, b) the demand for geothermal systems due to the dread of future high costs of heating oil, natural gas, and propane, c) the desire to have a “green” heating and cooling system, and d) new geothermal tax credits for both residential and commercial geothermal heat pump systems. The geothermal tax credits are the triggering component in this “perfect storm” and they are creating an unprecedented demand for geothermal systems and for GeoExchange loop field drilling. This water-well drilling industry “perfect storm” is a very important new business growth opportunity for water-well drillers. The same drilling rigs, crews, and methods that are used to drill water wells are used to drill geothermal loop field boreholes. There are several million-dollar loop field drilling projects across the US that are ready-to-go, but are not being constructed due to the lack of available drilling rigs and qualified crews. Most commercial building and a large number of residential GeoExchange projects are installed as vertical systems. So attend this new Accredited Driller training course and become an Accredited Vertical Loop Installer to grow your water-well drilling business even in this down economy. |
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