Geothermal Heat Pumps and Air Conditioning Systems Save You Money!
Installing a geothermal heating or cooling system in your home provides access to multiple money-saving strategies.
The average Louisville homeowner who makes the switch to geothermal systems saves 70 percent on heating costs and 50 percent on cooling and hot water. The savings are even higher when you switch to geothermal from propane!
Not only will a geothermal heat pump or air conditioning system save you money in the form of lower heating and cooling costs, but you may also be eligible for attractive tax credits.
In 2005, the Section 25D income tax credit provided a way for homeowners to claim 30 percent of the cost of geothermal installation, up to $2,000. In 2008, the cap was removed from Section 25D allowing claims of over $2,000. Unfortunately, the Residential Energy-Efficient Property Credit expires at the end of 2016. Unless you’ve started work on a geothermal system before December 31, 2016, you will not be able to take advantage of this incredible tax credit.
However, there may still be incentives for installing a geothermal system that you can take advantage of. These incentives include tax credits and rebates that may be available at the state and local levels, as well as from your individual power company.
To learn more about how these incentives can make it even more affordable to install a money-saving geothermal system at your home or business, please contact the geothermal heating and air conditioning experts at Allgeier Air. We’d be happy to assess your property for geothermal installation, explain how geothermal systems work, and provide an estimate for the cost of installing your very own geothermal heat pump.