Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Staff outlines possible geothermal lease program to capture commercial tax credits
Summary
City staff told the Sustainability Advisory Commission they are evaluating a commercial lease model for residential geothermal installations that could let businesses capture commercial federal tax credits and lease systems to homeowners; commissioners asked about buyout terms, eligibility and local incentives.
Scott, the city staff presenter, told the Sustainability Advisory Commission the city is evaluating an emerging commercial geothermal lease or bulk-purchase model that could let a business own a geothermal heating-and-cooling installation at a residence and lease it to the homeowner. "Residential tax credit for geothermal installations has been eliminated," Scott said, "but the commercial geothermal 30% federal tax credit remains."
Why it matters: the model could lower or eliminate upfront costs for homeowners, shift the tax-credit benefit to a commercial owner and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
