2011 Federal Tax Credits for Consumer Energy Efficiency...
Installation of Geothermal Heat Pump Systems
Homeowners who install geothermal heating and cooling systems may be eligible for federal tax incentives.
The Energy Improvement and Extension Act offers a one-time tax credit of 30 percent of the total investment for for qualified residential ground loop or ground water geothermal heat pump installations, with no upper limit for a single residence.
Geothermal systems tap the free, completely renewable, supply of solar energy stored just a few feel below the Earth's surface and use that energy to drive heating and cooling system in both residential and commercial buildings.
In addition to utility, state and now federal tax incentives that enhance the affordability of geothermal systems, this cost-effective, environmentally-friendly technology offers a host of benefits that includes:
- Free, renewable supply of solar energy
- Efficiency ratings up to five times higher than those of ordinary heating and cooling systems
- Savings on utility bills up to 70 percent
- Reduced carbon footprint since the system burns no fossil fuels More even distribution of heating and cooling for improved comfort
- Improved indoor air quality
- Quiet operation with no noisy outdoor units to disturb the environment or neighbors
- Safe operation that requires no open flame or fuel storage tanks
- Less maintenance
- Increased system longevity (an average life span of 24 years vs. 15 for conventional air conditioners and 20 years for fossil fuel furnaces)
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