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Inflation Reduction Act: Once-in-a-lifetime 30%-50%+ Federal Credits and Rebates for Geothermal HVAC
In the latest installment of "Engineering Tomorrow," Brian Gomski engages with Joe Parsons from ClimateMaster, dissecting the complexities of geothermal tax incentives following recent legislative changes. As the Senior Marketing Sustainability Manager, Joe provides a wealth of insight into how these incentives can benefit commercial entities. The ClimateMaster, a seasoned player in the HVACR industry, has seen remarkable growth since 2004, expanding from a specialized air handler manufacturer to a comprehensive provider of custom HVACR solutions. This episode offers an exclusive look at the Inflation Reduction Act of 2022, which has dramatically increased tax credits for geothermal installations. With Joe's guidance, listeners will navigate the intricate details of qualifying for these benefits, from understanding the significance of the thermal transfer of systems to the implementation of prevailing wage rates and apprenticeship programs. ClimateMaster's trajectory from a small-scale operation to over 700 employees and 230,000 sq. ft. of manufacturing space illustrates the robust potential for scaling up in the geothermal sector. Tune in as we explore the impact of the new tax credits on both commercial and non-profit organizations. Joe Parsons shares his expertise on how the expanded market for geothermal solutions can lead to more sustainable and financially sound construction projects. ClimateMaster's commitment to solving customer challenges is evident through their certified and ETL-listed components, ensuring that any project benefits from the highest standards of quality and efficiency.
About Engineering Tomorrow
Unlock the latest advances in HVAC Engineering and equipment design for commercial and industrial HVAC applications worldwide. This is the stuff they don't teach you in school. Mechanical Engineers, building operators, contractors and everyone in the commercial space, this podcast is for you. Sit back, relax, press play and improve your mechanical engineering and building engineering skills in no time. Access more episodes, subscribe, and learn more.