Tax Credits Available on Gas Heat Pumps

Controlled Air Inc. — Thu, 29 Jun 2023 15:48:36 +0000

We are excited to share that we have confirmed the Gas Heat Pump (GHP) systems manufactured by Yanmar qualifies for the 30% tax credit, as well as for direct payments to tax exempt entities, under the Inflation Reduction Act (IRA). Yanmar GHP is considered a mechanical cogeneration product and should be treated as “Combined Heat and Power system property” (CHP) for purposes of Internal Revenue Code Section 48, under the Investment Tax Credit (ITC).

As part of the new provisions adopted, the IRA imposed additional requirements to receive the 30% tax credit. The project must be installed under specific requirements and may require prevailing wage and apprenticeship requirements depending on the size of the project and other specific considerations.

These systems must be installed between January 1^st 2023 and December 31^st 2024. Please consult with your tax professional for additional requirements, information and to verify your qualification.

Gas Heat Pumps (GHP)/VRF

GHP’s, also sometimes referred to as VRF’s, are highly advanced mechanical units, concurrently producing mechanical power and thermal energy that provide heating and cooling. The natural gas heat pumps provided an electrical load reduction of approximately 30% and an 80% carbon emission reduction as compared to electric heat pumps powered by the grid.

Benefits

The benefit of a heat recovery system is that it allows for simultaneous heating and cooling by absorbing excess heat energy in one zone and transferring it to heat another. This helps provide comfort while operating at maximum efficiency. The heat recovery system allows for localized comfort with independent temperature control. Every occupant can enjoy a perfectly heated, cooled, and dehumidified area. VRF is a flexible system in operation and installation. Multiple configurations of indoor units are available, including wall and floor mounts.

Click here to download our flyer with more information.

Learn More about our Gas Heat Pump Solutions

The post Tax Credits Available on Gas Heat Pumps appeared first on Controlled Air.

Geothermal, Ground Source Heat

Controlled Air Inc. — Wed, 14 Mar 2018 18:20:27 +0000

Ground source heat pump tax credits were recently reinstated for the current tax year through Jan. 1, 2022. The tax credit applies to residential and commercial installations of Ground Source Heat Pumps.

Ground source heating is a renewable and reliable source of heat. The earth absorbs the suns energy and at a depth of 6 feet the soil maintains a more consistent temperature year round. We can use this natural energy to heat and cool water circulated through an underground loop. Closed loop systems can be water-based or refrigerant-based. During the winter, the fluid collects heat from the earth and carries it through the system and into the building. Conversely, in summer, the relatively cool ground absorbs waste heat more readily than warm outdoor air.

According to the Environmental Protection Agency, geothermal energy is the most energy-efficient system of air handling and can lower energy costs by 25 to 40 percent, with fewer emissions, lower maintenance and no danger of underground contaminants. There is also a reduced use of refrigerants.

Controlled Air, Inc. is certified and accredited by the International Ground Source Heat Pump Association for ground source heat pump installations.

Ground Source Heat Pumps offer great benefits (Information provided by IGSHPA.)

Simultaneously heat & cool different parts of the same building
Very quiet–users do not know when the system is operating
Can be set up in multiple zones, with each zone having an individual room control
Greater freedoms in building design due to 50-80% less mechanical room space
No outside equipment to hide, eliminating vandalism and roof top units
Pipes have 50-year life expectancy
All electric, which eliminates multiple utility services
Expel boiler and chiller maintenance
Ground heat exchanger is maintenance free and will last 40+ years

Geothermal in Connecticut

Right now rebates of $500 to $1,500 per ton are available for qualifying systems provided by the Connecticut Energy Efficiency Fund. Please visit Energize CT Geothermal Heat Pump Rebates page to learn more.

Geothermal energy is listed as a Class I renewable energy source as defined in the Connecticut General Statutes (CGS) Section 16-1(a)(26)(iv).

The post Geothermal, Ground Source Heat appeared first on Controlled Air.