
Geothermal heat pump: this not-as-new-as-you-think renewable energy source that has provided electricity to power plants in the western U.S. as well as other countries, now is moving quickly into the residential market.
If you are looking to utilize solar energy and tap into renewables as well as collect more of a government incentive this is worth looking into.
It is most beneficial to you if you are starting with new construction.
The American Recovery and Reinvestment Act of 2009 now has eliminated the the $2000 tax credit cap that had been in effect.
Homeowners can now claim a full 30% tax credit on alternative energy equipment for residential use including geothermal heat pumps and
solar powered water heaters.
Read IRS Notice 2009-41 for the details on this big news.
It really is an easy system to understand.
The EPA has estimated that this super efficient system will yield utility savings of about 70% ! You can even add a Desuperheater (not a superhero)to the geothermal heat pump which would supplement your existing water heater.
Now, this doesn't come cheap.
A conventional gas powered furnace and central air conditioning unit together costs in the area of $4000.
A geothermal heat pump system for a typical house will cost about $7500.
The coils need to be laid as well so to add a unit to an existing home, you’ll need to factor in the cost of drilling and that can be upwards of $10,000.
Clearly, adding one of these systems to your home as it is being built will give you the most cost savings since the digging and laying of the coils can be done with much less effort.
Don't forget to factor in the savings you will get on your utility bills, and that BIG tax credit and it should pay for itself in 3-5 years and last 20 years or more.
Minimal pollution, just the electricity used on the pump.
No noise…your neighbor’s will thank you and clean indoor air...no worries about carbon monoxide.
If I am ever to build a new house again, a geothermal heat pump will definitely be our heating and cooling energy source.