April 2024 Membership Luncheon

Inflation Reduction Act & Thermal Storage Opportunities for Commercial Office Buildings

The Inflation Reduction Act of 2022 is a $369 billion bill that is intended to reduce greenhouse gas emissions by 40% by 2030. Funding is targeted to utilities and states, and that will ultimately flow to residential, commercial, and industrial facilities. However, the IRA made very few new changes to existing programs. The 30% tax credits for solar, wind, geothermal, and electric vehicles were simply extended. What is new is tax credits for energy storage, and specifically thermal energy storage. The federal government recognized that energy storage is essential if we are to achieve 100% renewable energy by 2050. Thermal storage has been used for 40 years and is proven, reliable, and cost-effective. With 30-40% tax credits, it is now lowest first-cost option for cooling commercial buildings. We will talk about the Section 48 Investment Tax Credits. We will also talk about Section 179D tax deductions and accelerated depreciation.

Guest speaker: Bruce Lindsay, Trane Technologies

Bruce B. Lindsay, PE, CEM is currently the Business Development Team Leader for Trane’s Thermal Storage Systems (CALMAC ice tanks) and focuses on the investment tax credits in the US Inflation Reduction Act of 2022. Mr. Lindsay has been involved in thermal storage for over 30 years and was the Executive Director of the Electric Power Research Institute’s Thermal Storage Research Center at the University of Wisconsin-Madison. He was recently the Energy Manager for Brevard County Public Schools (Florida), where he had 84 schools of which 20 had ice storage systems. He is an ASHRAE Distinguished Lecturer and Program Chair for ASHRAE TC6.9 Thermal Storage.

Registration closes Friday, April 12, 2024 at 3 pm or when capacity is reached.

Cancellations received after registration deadline will not be refunded due to food & beverage guarantees already submitted. Substitutions may be permitted up to 24 hours prior to event; for this event, that date is 11 am Tuesday, April 16).

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