Geothermal: Big in Little Rhode Island
With the cost of home heating oil and natural gas skyrocketing, more and more Rhode Island homeowners are making the switch to the most energy efficient, environmentally friendly, and cost-effective way to heat and cool their homes - a Geothermal Heating and Cooling system.
Compared to conventional heating & cooling systems, Rhode Islanders can save 30% to 70% in the heating mode, and 20% to 50% in the cooling mode with a Geothermal system. In addition, geothermal systems generate no on-site emissions and help to reduce America's reliance on foreign oil and fossil fuels.
Geothermal systems consist of a Ground Source Heat Pump (GSHP), which uses the Earth's relatively constant temperature below the frost line to provide heating, cooling, and hot water for homes and commercial buildings.
Rhode Island offers a number of rebate programs for Geothermal customers:
Rhode Island State Income Tax Credit of 25% up to $7,000 for Ground Source Heat Pump SystemsR.I. General Laws, Section 44-57-1 et seq. http://www.energy.ri.gov/programs/renewable.php
Ground Source Heat Pump Systems are exempt from the State's 7% Sales TaxR.I. General Laws, Section 44-18-30
Please see the Rhode Island DSIRE page for additional geothermal tax credits and incentives.
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.http://energytaxincentives.org/business/renewables.php
To qualify, tax payers will need to have evidence regarding:
- the cost of the system,
- when it was placed in service
RI Geothermal Testimonials
Anonymous from North Smithfield says:
new house for me with older geo systems... so far so good!
Chris Jorgensen from Glocester says:
Love our 5-Ton Hydro-temp system installed about a year ago in new constuction home. Still working out some bugs w/ radiant in basement and garage. Average electic bills $150, 2000 sf home.
Installed by: New England Refridgration