YOUR "MAINE" CONCERNS ABOUT GEOTHERMAL
If you are looking to reduce your carbon footprint in the world, your home is a great place to start. Geothermal energy is clean, renewable and ultimately affordable.
Geothermal heating and cooling systems – also called geoexchange or ground-source heat pumps – provide all-season comfort by tapping the energy that is naturally stored in the earth. This energy isn't just renewable: it's constant.
Maine has a number of rebate and loan programs to install your new Geothermal System in your home:
The Federal incentive covers 30% of the expenditures in the year the incentive is taken, up to a cap of $2,000 if the property was installed prior to January 1, 2009. Qualifying geothermal heat pump property installed after December 31, 2008 is eligible for 30% of the installed cost without a cap, as provided under the American Recovery and Reinvestment Tax Act of 2009 (ARRA) . The incentive is available for taxpayers installing qualifying equipment at their primary residence or a second home, but not for a rental property. This incentive is available till December 2016.
To qualify, tax payers will need to have evidence regarding:
- the cost of the system,
- when it was placed in service,
ME Geothermal Testimonials
Anonymous from Carmel says:
Replaced oil boiler / hot water baseboard heat with foreced air geothermal system. Oil system used around 1,000 gallons annually ($3,850), geo system uses less than 6,000KwH ($800). Also now have central A/C! Couldn\'t be happier with my investment!
Installed by: ELCO Geothermal
Philbrick from Hampden says:
In 2008, we converted our 4000 SF, 2 story, 25 year old home from oil/HWBB to a geothermal horizontal closed loop water to water heating system, employing 1/2 of the HWBB (2nd floor), a radiant gyp-crete over-pour (1000SF), and 3 added fan coil units primarily for AC. Our heating costs were cut in half. By 2010, we added a 20KW grid connected photo-voltaic system, and now our (combined heat/AC and light bill)energy costs are ZERO. We have leveraged the energy of the sun, so we are no longer a consumer of either fossil fuels or electricity. In fact, we now deliver surplus power to the grid, that we consume at our business. GEO/PV definitely works here in Maine. Visit us at www.elcogeothermal.com
Installed by: elcogeothermal.com
Chris Philbrick from Hampden says:
My home is a 12 year old 2 story Cape style modular home. In 2011, I converted the heating system to geothermal water to air and converted my existing 325\' well to a standing column well. The payback for this conversion is 2.8 years!
Installed by: elcogeothermal
Christopher Philbrick from Hampden says:
Check this out, I retrofitted my 10 year old cape with a forced hot air water - air, 325\' standing column geothermal system, for $7,000. The feds gave me 30% deduction, the utility gave me $800, and a reduced kwh rate on all power consumption. Yield= 2.8 year payback. BEAT THAT! Thanks to ELCOgeothermal.com . Plus I have AC now. The hell with oil.
Installed by: ELCOGeothermal, Bangor