A bill is awaiting Governor Cuomo’s signature that could make a big difference for New York’s environment and our clean energy economy!
A.9925/S.6249 creates important tax incentives for the development of geothermal energy systems -innovative technology that uses thermal energy stored in the Earth and brings that energy into homes and businesses through a series of pumps and heat exchangers.
Buildings consume 40% of the total energy used in New York State every day, mostly via natural gas, propane, home heating oil combustion or electrical resistance heating. Fossil fuel combustion and electricity production (via gas/coal fired power plants or nuclear facilities) have negative environmental consequences through greenhouse gas emissions, generation of toxic waste and air pollution, excessive use of water resources and harmful extraction mining. These impacts are significantly minimized by geothermal heating and cooling. Since geothermal technology uses energy stored in the ground, it is not dependent on time of day or year, and works in all weather and in every climate.
In addition, this technology has a positive economic effect on the state’s utilities because it lowers the need for expensive energy infrastructure that is only needed a few days of the year when temperatures exceed 90 F and use of air conditioning spikes. When geothermal systems are installed in homes and businesses, indoor air quality improves and operational costs for heating and cooling are lowered – passing the savings on to the consumer.
Geothermal heating and cooling systems are New York’s best alternative for achieving net zero energy goals, but in order to promote and facilitate the technology’s growth, it deserves the same financial encouragement as other desirable energy sources like wind and solar.