Hot water from Geo system or???
Last Post 22 Dec 2017 05:02 PM by Dana1. 25 Replies.
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loghomebuilderUser is Offline
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21 Dec 2017 04:53 PM
80% of Americans will see a tax reduction. Only 5% will see an increase. So no, it was not done for the "Republican fund donors and benefit of the well off."

The Joint Committee on Taxation (JCT), which is an official Congressional scorekeeper, the Tax Foundation (which leans to the right), and the Tax Policy Center or TPC, (which leans to the left). In spite of the deceptive rhetoric flying around social media and the airwaves, all three outfits agreed that the GOP proposal would, on average, reduce the tax burdens of every income group in America.

https://townhall.com/tipsheet/guybenson/2017/12/19/leftleaning-scorekeeper-so-the-gop-tax-bill-cuts-taxes-for80-percent-of-americans-n2424201

I'm most concerned with the Geo tax credits at the moment. Thats unfortunate though Dana, as all of the other articles I had read said it was most likely going to be included.
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21 Dec 2017 06:15 PM
Yeah the dumb masses will see a couple hundred dollars and the 1% will see many millions of dollars. Fortunately I am a double digit millionaire with another home in New Zealand so look forward to the masses eventually rising up and taking their share from the 1% by force like the French Revolution. Politics are nearing an end in the US and revolution is the only plausible outcome. Good luck with your GSHP...you will need it...
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Dana1User is Offline
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21 Dec 2017 09:09 PM
The real issue is the longer term effects of the lost revenue in terms of national debt service, and the lost federal benefits, and what replacing those benefits out of pocket will cost. Will replacing those reduced benefits paying cost the current recipients less than their taxes were reduced?

Changes in the estate taxes this time around also pretty much guarantee increasing wealth (not just income) disparity. Hopefully it won't come down to another French revolution, but it's getting harder to rule that out.

The proponents of this tax do-over seem to have imbibed heavily at the Laffer trough, and seem to be under the delusion that no matter what the circumstances, any tax cut will pay for itself in increased economic activity. More sober analysts sees other possible outcomes (as did the original Laffer devotees in the Reagan administration post tax reform, who later signed off on tax increases multiple times to avoid fiscal disaster.) The 3%+ sustained growth rates that would make that eventual payoff possible don't seem very likely. Only 14 out of the 37 years since 1980 have seen 3% or higher growth rates in the US, and there are lots of moving parts to the international economics that would be necessary to align to make that happen. Talk about 3% being the "historical norm" are cherry picking the data, including the start and end dates of the "normal" period, and ignoring the circumstances surrounding the growth years. Some of highest growth periods of the past 50-75 years coincided with EXTREMELY high marginal income tax rates (not that extremely high marginal tax rates were the cause. :-) )

But hope springs eternal (in some parts, anyhoo...)

Whenever there are subsidies skewing markets for targeted policy outcomes the possibility that they will be withdrawn is always there. At least with most of the energy technologies that still qualify for 30% tax credit energy have an automatic sunset schedule, and will not become a permanent thumb on the scale long after the rationale goes away.

Multiple new sources over the past 48 hours indicate that ground source heat pumps, small scale wind, and combined heat & power plants did NOT get the 30% tax subsidy restored. I'm not hopeful that ground source heat pumps will make it back onto that 30% tax credit list in any new legislation. A more likely outcome given the mood of this congress and administration is that the sunset schedule for solar & wind etc may be accelerated, and end sooner (but I'd be OK with being wrong on that.)
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22 Dec 2017 05:45 AM
The Senate tax extender bill extends geo credits for the FULL five years from Jan. 1, 2017 through Dec. 31, 2021, with a phase-out of 25D similar to solar, with “placed in service” language changed to “construction commenced.” Most importantly, it distinguishing the GHP tax credits from 33 other provisions in the legislation that are only granted a year retroactive to Jan. 1, 2017, and a one-year extension to the end of 2018.

Working in favor is the Senate bill’s inclusion of a tax credit extension for the nuclear power industry and a provision for carbon sequestration to fight greenhouse gas emissions, putting in place a broad coalition of other industries that will be pushing for passage of the legislation.

At the time of this writing, it does not appear that the Senate bill will achieve passage before Congress goes home for the holidays. More likely, it will be part of a continuing spending resolution scheduled for Jan. 19, 2018.

It’s high time that Congress lives up to its promises and legislates GHP parity with the solar industry. That means nothing less than equal tax credit treatment with the full 5-year extension (2017-2021) of tax credits for GHPs now contained in the Senate Tax Extender Act.
www.buffalogeothermalheating.com
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22 Dec 2017 05:51 AM
Posted By loghomebuilder on 20 Dec 2017 07:36 PM
Yes, Geotherm is who I'm talking to at the moment. Is there a water to water heat pump for domestic hot water I could ask them about?


Sure there is. They are knowledgeable about it.
www.buffalogeothermalheating.com
Dana1User is Offline
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22 Dec 2017 05:02 PM
Parity with solar etc can also be achieved by withdrawing the subsidy from solar, which seems to be more in line with the "save coal and nuclear" leanings of the current administration.

But it's not over until it's over- there's still SOME hope. I'm just a bit less sanguine about it than some others.
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