We’re sure you’ve heard the term “Geothermal” but do you know the benefits? Just this year, the government passed a 30% tax savings for installations through December 31st, 2019. For homeowners who installed a Geothermal system in 2017, you can now claim the 30% credit.
Let’s Talk Cost
As you may expect the upfront costs are a concern and it’s important to have an idea to make sure it’s right for you. A Geothermal system costs $10,000 to $30,000 depending on factors such as yard size, system configuration, soil and site accessibility. A Geo unit typically costs In a new home the installation is a bit cheaper. You’re probably wondering how long it will take to recuperate your investment.
Recouping your costs through energy savings could take as little as 4 years or up to 15 years depending on factors such as your utility rates, and cost of installation. Have our professionals give you an estimate and see if Geothermal is right for you!
The Benefits
- Clean Energy – As you probably know, Geothermal a green form of energy. There are no greenhouse gasses.
- Lower Operating Cost – This system will immediately save you 30-60% on heating and 20-50% on cooling over your conventional furnace and air conditioner.
- Can be Installed in New or Older Homes – The only issue in retrofitting an older home is making sure the proper duct work is in place.
- Low Maintenance – The loop in ground typically lasts more than 50 years and the indoor unit about 25, giving it much more life than a conventional furnace/ air conditioner.
Conclusion
Geothermal energy is great for the environment, but not so great for your wallet. Thankfully, you can now claim 30% tax savings on Geothermal systems. This is the perfect opportunity to have our professionals give you a bid on new installation or retrofit. Call us today at 364-HEAT (4328) and Tim Stecklein will answer any questions you may have!
