When you want the most energy-efficient way to cool and heat your home, consider a geothermal heat pump (GHP). Besides getting one of the most durable HVAC systems around, you can also take advantage of a 30 percent tax credit at the federal level to offset the entire cost of the system.
Geothermal system tax credits This credit is good through 2016 for GHPs that meet the Environmental Protection Agency's standards for high-efficiency systems. It covers the equipment costs, labor and installation. The credit has no ceiling, which is good because installation costs for these kinds of HVAC equipment vary based on the geology and soils at the site where they'll be placed. The tax credit applies to existing homes, new homes and even vacation homes. How geothermal heat pumps work Instead of using air to lose transfer heat, or fuel to heat your home, GHPs use a loop field that sits underground, where temperatures are stable throughout the year. The systems use either the soil or a water source as fuel for gathering or disposing of heat. The primary reason that such a generous tax credit exists is because these heat pumps are much more efficient than other kinds. They can save from 30 to 60 percent on year-round heating and air conditioning expenses. Long-term benefits of using geothermal Homeowners get additional savings because geothermal heat pumps don't use outdoor condensers, which frees up yard space and reduces outdoor noise. The loop field can last up to 50 years or more and the indoor air handler has a life expectancy of 25 years, with proper maintenance. A desuperheater can be combined with a GHP that supplies hot water for your home in the summer, an additional energy savings. This option also qualifies for the tax credit. Little about GHPs is do-it-yourself, so if you'd like to learn more about these systems, contact Russell's Heating & Cooling. We've provided HVAC services in the entire Hampton Roads area since 1977. Our team can assess your yard for the type of geothermal heat pump that would work best and get you started on significant energy savings for your home. Our goal is to help educate our customers in Chesapeake, Virginia and surrounding areas about energy and home comfort issues (specific to HVAC systems). For more information about tax credits and other HVAC topics, download our free Home Comfort Resource guide. Image courtesy of Shutterstock