Tuesday, March 10, 2009
Geothermal Heating 30% Install Savings
With the 2009 Stimulus Bill that was passed American homeowners now can save 30% of the installed cost on geothermal systems. The new energy bill allows each tax paying citizen to get 30% of the installation cost back from there income taxes they will pay in 2009. This is a huge benefit to take advantage of. Nobody likes to pay taxes, now you can get some back, plus lower your monthly heating/cooling cost which equals more money in your pocket.
A geothermal heating system isn't very complicated. They are less maintenance than a standard gas furnace, they have a longer life span, plus provide a lot of environmental benefit. A basic description: The sun heats the earth and a geothermal system removes the energy from the sun in the ground and transfers it to your home. Same happens in the summer, it will transfer the nice cool ground temp to your home. A typical Minnesota home will save around 50% commonly.
Geothermal Description Link
I did a cost compression of a typical Minnesota home. There heating cost were $1,480/year and cooling was $123/year, and hot water cost were $405. With a geothermal heating system the new heating cost would be $475, cooling $34, and hot water $208. So the total energy for the home was $2,007 and new was $716. That is a savings of $107 per month.
Less maintenance, saves money every month, last longer, and now the government will pay 30% of the bill.
BTW: Geothermal Systems don't have an outdoor unit like a standard A/C you are use to. So you can get rid of the noisy box outside also.