Are you tired of paying exorbitant fees on annual heating costs? Perhaps you want to upgrade your HVAC appliance to something a little more eco-friendly. For these reasons and other attractive incentives, geothermal heating and cooling is ideal. And if you’re worried about cost, convenient tax breaks can help cover the initial investment. Here’s a guide about the far-reaching advantages of running a geothermal household.

How Can Geothermal Heating Benefit You? 

Increased Energy Efficiency 

Due to their designs, which uses the earth’s thermal energy to heat and cool a home, geothermal units require less energy than other alternatives. According to the Office of Energy Efficiency & Renewable Energy, installing a heat pump can cut energy costs by as much as 65%. Additionally, although geothermal heating systems require a substantial initial investment, the resulting savings offer a complete return on investment in as little as 10 years. 

Federal Energy Credits for Geothermal Households

In addition to saving on energy costs, homeowners who use geothermal heating are eligible for a residential tax break. According to the Bipartisan Budget Act of 2018, homeowners can receive up to 30% in savings for any system installed before the end of 2019. Installation and labor costs, as well as materials are included in the tax benefits. To claim the Residential Energy Credit, homeowners are required to fill out and send IRS Form 5695. 

Geothermal Heating Is Eco-Friendly 

Geothermal systems run on less electricity than other heating and cooling appliances, reducing strain on your local energy grid. They also doesn’t rely on any of the oxygen-depleting substances, such as refrigerant, used by traditional HVAC systems. This means their carbon emissions are much lower.

Switching to geothermal heating and cooling can have far-reaching advantages, making your household more energy efficient and protecting our environment. For more than 50 years, Noakes Heating Air Conditioning & Refrigeration in Lincoln, NE, has provided heating and cooling maintenance and repair services in Southeast Nebraska. Call (402) 328-9182 to schedule an appointment. You can also visit them online for more information on their residential and commercial services.