More countries are joining Geothermal Movement

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Colombia’s Ministry of Mining and Energy has declared regulatory changes to geothermal providing equal tax benefits available to solar and wind energy among others.

The objective of the regulation is that geothermal energy generation projects have the same tax benefits as solar or wind initiatives. Minister Mesa commented that among the benefits there is a 150% over-deduction of investments against income tax, for every million pesos invested in this type of project, $1.5 million can be deducted in the income statement, for a period of 15 years.

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NYC Local law 97 intended to reduce carbon emissions within New York City. The law goes into effect beginning in 2024 and has three different time stages. According to the law, carbon emissions within NYC will be reduced by up to 40% by 2030 and up to 80% by 2050.

The law will apply to both commercial and residential buildings. It’s time to check if your building qualifies for a geothermal system implementation that will help to decrease carbon emissions and protect the environment! Follow the link and book a free consultation:

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