Dear Geo Outlook Reader,

I’m honored to have the opportunity to write a few words for the reintroduction of Geo Outlook. This moment has been several years in the making ever since IGSHPA became an independent entity with a firm focus on the needs of industry professionals. In that time, IGSHPA has elevated its prominence and importance, serving not only industry insiders, but a wide range of external stakeholders.

We’re approaching a rather auspicious anniversary, one year since the passage and enactment of the Inflation Reduction Act. From the moment Joe Biden became President, GeoExchange knew that there was an opportunity for a major climate and energy package. We worked closely with the relevant tax writing committees in Congress to ensure our inclusion and fair treatment in the proposal. The year and a half of negotiation was something of a rollercoaster, and when all seemed lost and reconciliation declared dead, the IRA materialized out of the blue and quickly passed along party lines.

The year since then has been a flurry of activity. We’ve submitted formal comments to the Treasury Department, met with climate leaders at the White House, and huddled with our partners at the U.S. Department of Energy, all to ensure that we’re able to appropriately leverage the incentives that Congress saw fit to afford us. The devil is always in the details but we’re working hard to make sure we get a fair shake in implementation of the IRA’s numerous provisions.

I was recently on Capitol Hill meeting with members of Congress and providing updates from the industry. I told a recently elected Congresswoman that being in the geothermal/ground-source heat pump industry is so gratifying because we are supported and encouraged on both sides of the aisle. No matter your political stripe, there’s plenty to love about geo. She agreed wholeheartedly and signed a letter of support for us. We will keep up our advocacy work on your behalf and don’t hesitate to reach out with questions.

It has been a joy working with Jeff and the entire IGSHPA team and I’m sure they’d concur that the best is yet to come. As an industry, we have lots of work ahead of us, but we are committed to geothermal heating and cooling becoming the preferred technology for buildings. Onward and upward!!

Sincerely,

Ryan Dougherty
President
GeoExchange