Geothermal Incentive Education

We’ll be frank; the world economy has certainly seen better days. In times of recession, it’s vital that you plan and make your investments wisely. The negative effects of any step in the wrong direction are twofold, and consequently twice as hard to recoup from or rectify. All things considered, those of us who prefer to live free of external stress and internal hardship must err on the side of caution and certainty. Risk can be opportunity; this is true. But it’s often unwarranted. In times of economic tribulation, when a big risk is the last thing you’re prepared to take with your finances, there are, in fact, safe investments. We believe that geothermal heating and cooling is one of these investments. We believe that it’s worth the . . . well, worth the consideration. It’s not for all of you. It is, though, for some of you.

From FHP Manufacturing - www.FHP-MFG.com

Here, at GeothermalGenius.org, we’ve accumulated a nice set of resources that evidence the various incentives for homeowners looking to install a geothermal heat pump system. When coupled with our geothermal savings calculator, these resources should give you a basic understanding of your ballpark financial commitments and payback figures. The following is a list of these resources (accessible from our home page), each with a brief description:

Federal Geothermal Tax Credit - A 30% federal tax credit for the installation of a ground source heat pump (geothermal system) with no cap went into effect in 2009. It is available through the end of 2016.

US State Geothermal Incentives - Financial incentives by US state. Click on your state to see state-based geothermal installation incentives.

Canadian Province Geothermal Incentives - Financial incentives by Canadian province. Use the text links at the bottom of the page to see geothermal incentives for your province.

Financing Your Geothermal Installation - Recommendations for geothermal system financing, from cash to loan-based payments.

These should get you started! If you have anything that you’d like to add, whether it’s a state-specific incentive or tips for financing, please do share. We love to hear feedback from our readers! Again, we’d like to stress the importance of educating yourself before ruling out a geothermal installation based on the up-front costs. We’re confident that most of you will be pleasantly surprised by the immediacy of your would-be geothermal system’s payback. For many, geothermal is an investment worth making - one that will put money back in your pockets for years to come.