Geothermal systems are energy efficient and can cut heating and cooling costs each time they run. These systems also benefit the larger community by lowering the demand for natural resources, both for fuel and materials. As such, geothermal heat pumps (GHPs) top the list of HVAC equipment that can help reduce energy consumption and durability. In the short term, financial incentives for installing a geothermal system may entitle you to:
Federal Tax Credits.
A federal tax credit, active until December 31, 2016, lets you claim 30 percent on the cost of the equipment and installation to offset any taxes you owe. If the amount exceeds your liability, you can carry the credit forward into the following year.The GHP must meet the program requirements active at installation to qualify. However, the cost of your ductwork and supplemental heater coils are not included. This credit covers primary and secondary homes, both new and existing. Rental properties are not eligible.
Local Incentives.
Periodically, local communities and energy providers offer different types of incentives for making home improvements that increase energy efficiency. As you explore the benefits of geothermal systems with your HVAC provider, ask the company representative to discuss the incentives available for your area.
Over time, you'll experience these benefits from a GHP:
Low energy consumption.
Because GHPs use heat stored underground for the heat exchange process, it uses less energy. This is because temperatures underground are more stable, unlike temperatures above ground that have wide swings. Energy Star GHPs can reach nearly 600 percent efficiency, while gas furnaces can only reach 100 percent. In the cooling mode, it uses less energy than central A/C systems because it deposits excess heat from your home underground, where it's much cooler.
Durability.
GHP loop fields typically carry a 50 year warranty, indoor heat pumps may last 25 years or more with routine maintenance.
The pros at Air Assurance can help learn more about the benefits of geothermal systems. We've been serving Broken Arrow homeowners for more than 30 years
.Our goal is to help educate our customers in the Tulsa and Broken Arrow, Oklahoma area about energy and home comfort issues (specific to HVAC systems). Credit/Copyright Attribution: “shanesabin/Shutterstock”