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Geothermal: The Investment Will Pay For Itself click chart to enlarge
Geothermal energy is often considered a new form of alternative energy. While it is new in it’s current application, geothermal energy has been used for thousands of years. Many cultures have used geothermal energy to their advantage, dating back to some of the Earth's earliest civilizations.
 The application of geothermal heating/cooling, also known as ground source heat pumps, has been named "the most energy-efficient and environmentally sensitive of all space conditioning systems", by the Environmental Protection Agency. The system's basic concept takes advantage of the earth's constant temperature, approximately 55 degrees, to heat and cool a home. By tapping this steady flow of heat from the earth in the winter, and displacing heat in the earth in the summer, a geothermal heat pump can save homeowners 40 to 70 percent in heating costs and 30 to 50 percent in cooling costs compared to conventional systems.
MacGregor can give you all the details on a geothermal system for your new or existing home. Geothermal Heat Pump Tax Credit New tax credits are now available for homeowners who install geothermal heating and cooling systems through the Energy Improvement and Extension Act of 2008 (H.R. 1424). H.R. 1424 offers a onetime tax credit of 30% of the total investment for homeowners who install residential ground loop or ground water geothermal heat pumps.
To qualify, the systems must meet or exceed EnergyStar requirements and be installed after December 31, 2007. While units installed in 2008 are subject to a $2,000 cap on the credit, units installed from 2009 through 2016 can take advantage of the full credit. Geothermal FAQ
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