Geothermal Systems Can Carry Tax Credits
In addition to federal tax credits, in many cases, homeowners who install geothermal heating systems can also qualify for utility and state rebates.
(NAPSI)—Tax credits for geothermal heat pumps are a hot item. According to WaterFurnace, a leading manufacturer of geothermal systems, in many cases, homeowners qualify for a federal tax credit for installing their products. Some homeowners may also qualify for additional utility and state rebates, which can make installing such systems even more affordable.
Thanks to these incentives, a homeowner can save money when installing a geothermal system and continue to experience savings for years since such a system operates more efficiently and economically than traditional furnaces, air source heat pumps or air conditioners.
Some states are also beginning to acknowledge that geothermal systems offer as much benefit when it comes to clean energy generation as wind and solar technology. In fact, the state of Maryland has enacted legislation that allows a utility to claim a renewable energy credit for installing a geothermal heat pump.
Stored Solar Energy
In general, geothermal heat pumps take advantage of free solar energy stored just below the surface of the earth. Using a series of pipes buried in the ground, the system extracts thermal energy, concentrates it, and distributes it throughout the home using traditional ductwork or radiant floor heating.
The most efficient geothermal heat pump systems can deliver over five dollars of heating for every dollar of electrical energy it uses. That translates into reductions in heating and cooling bills by as much as 70 percent.
The system reverses to cool a structure. In that mode, it extracts heat from indoor air and either moves it back into the earth or into a water tank for domestic hot water.
Geothermal systems, such as those produced by WaterFurnace, tend to produce more energy per square foot than solar systems while taking up less space.
In addition, the majority of geothermal manufacturers offer equipment that can provide hot water to the home. Unlike solar solutions, these geothermal systems provide hot water around the clock, heating it at three to five times the efficiency of traditional gas or electic heaters.
WaterFurnace International, Inc. is a leading manufacturer of residential, commercial, industrial and institutional geothermal and water source heat pumps.
To learn more, you can visit www.waterfurnace.com.