TAX CREDIT/BENEFITS – Geothermal Technology
It’s a fantastic time to invest in geothermal heating and cooling technology. The American Recovery and Reinvestment Act of 2009 recently lifted the caps on tax credits to qualified geothermal heat pumps, which was previously set at $2000. Homeowners who install a geothermal ground loop or ground water geothermal heat pump qualify for this one time of up to 30% of the total investment, as long as the pump meets or exceeds EnergyStar requirements and installed after December 31, 2009. Business owners will receive a credit of 10% of the total investment. Units installed in 2008 are subject to a $2,000 cap, but those installed between 2009-2016 have no cap.
This substantial tax credit is just one of the many benefits of using geothermal technology to heat and cool your home. Geothermal systems use 25-50% less electricity than conventional systems. According to the EPA, geothermal pumps reduce energy consumption up to 44% compared to air-source heat pumps, and up to 72% compared to standard air-conditioning. In humid areas, like Florida, geothermal heat pumps improve humidity control by maintaining 50% relative indoor humidity.
But it’s not just the tax credit or energy savings that should peek your interest, geothermal heat pumps are also extremely durable and reliable. The underground piping carries warranties of 25-50 years, and the heat pumps are known to last twenty years of longer.
So, if you’re looking for a reliable system that will also give you tremendous savings on your energy bill over the long-run, a geothermal heat pump may just be what you’re looking for!
________________________________________________________________________
Did you know the earth can heat and cool your home while saving on energy costs over the long term?
Just below the earth’s surface, the temperature remains relatively constant throughout the year by absorbing half the sun’s energy. Geothermal heat pumps tap into this natural ground source of energy reducing heating costs up to 60%, and cooling costs by 25% in summer months. GHP’s have three components: a ground heat pump, a closed pipe system, and the air delivery system. Buried in the ground is the closed loop, which is a continuous loop of polyethylene pipe. It’s filled with water or an anti-freeze solution and connected to an indoor heat pump, forming an underground loop. The system circulates water through underground pipes that ultimately carry water through the home’s air transfer unit. In the heating mode, the liquid in the pipes is cooler than the ground. In the cooling mode, the soil is cooler than the liquid.
Geothermal technology has been around for a while, but is gradually becoming more well loved. A geothermal system costs about twice as much as a conventional heating and cooling system; but, the energy savings combined with the new tax credit on these systems, most people make their investment back in three to five years. In Florida, that could mean a savings of up to $40 a month on air conditioning bills.
These systems are extremely durable, and when properly installed, this tubing will last fifty years or longer.
Johnny@GreenAirExpert.com
http://www.geothermalexperts.net
Related Blogs
- Related Blogs on Geothermal
