Great news for companies that want to reduce emissions and meet their ESG objectives.
Gulf Coast Green Energy and ElectraTherm teamed up with the Pew Foundation, the Clean Energy Business Network and Heat is Power to secure a very attractive tax incentive for our Waste Heat-to-Power Systems that reduce the cost of the ElectraTherm Power+ generators and associated equipment by 30-50%.
With the recently passed Inflation Reduction Act, operators looking to implement waste heat recovery technologies will be able to do so with the help of an attractive 30-50% ITC.
This opens up opportunities across the nation in all industries from metal manufacturing and pharmaceutical production to wastewater treatment, Oil & Gas E&P, and refining. Simply said, this was a big step toward achieving important sustainable and energy efficiency milestones in the United States.
In the United States, nearly 70% of applied energy is lost due to various inefficiencies, this lost energy is commonly referred to as waste heat. Traditionally, this heat was not at high enough temperatures to be economical for power generation. However, with recent advancements in WHP technology heat sources as low as 190°F can be used to generate power. Not only can this waste heat be harnessed to generate emission-free power, but the ORC (Organic Rankine Cycle) process used to convert this heat into power comes with many other benefits.
With the adoption of the Inflaction Reduction Act, – Gulf Coast Green Energy is well positioned to lead the waste heat to power movement with ElectraTherm’s simple and reliable ORC solutions that just became even more practical. If your processes generate heat greater than 190°F, then there’s an opportunity that you can leverage a waste heat recovery system to generate profitable power.
Pair this with an already attractive payback period and you could see a return on your investment in as little as 1-3 years. Plus, our product’s 20-year design life grants you a significant income stream for decades to come.
The new ITC covers internal combustion engines. To see if your project is covered, please contact Loy Sneary loy@gcgenergy.com or call 979.240.3512. All calls are returned within 24 hours.
“Waste energy recovery property” is defined as any property that “generates electricity solely from heat from buildings or equipment if the primary purpose of such building or equipment is not the generation of electricity.”
For a full list the latest state and federal incentives and rebates visit the Database of State Incentives for Renewables & Efficiency (DSIRE).
