How Much Can a Geothermal System Save Me?
Environmental friendliness is a big perk of investing in a geothermal system, but that’s not the only reason many homeowners want to know more about this exciting energy alternative.
Why should the average homeowner care about environmental friendliness? In the hustle and bustle of everyday life, going green might not be your top priority. There are plenty of other things on your mind when you have bills to pay, dinners to cook, and television shows to watch. While your DVR may be beckoning from the other room, taking a few moments to familiarize yourself with the spectrum of geothermal benefits is definitely worth your while.
Here are the facts you need to know about geothermal systems:
Incentives and Tax Credit
Before we get into operational savings, it’s important to think about the government rebates that exist to encourage homeowners to make the transition to geothermal. These help cover the initial costs of installation and setup, which is less than twice the cost of a traditional HVAC setup. Beyond the first year of operation, recurring tax write-offs are available on an annual basis to reward geothermal system users.
Because of the money you save on operational costs, your geothermal unit will eventually pay for itself. The process of recouping on investment expenses could take a few years, but any heating/cooling system will carry long-term financial consequences. Why not pick the one that keeps more money in your pocket as time goes by? Geothermal systems have an average lifespan of 20 years.
While many homeowners may be daunted by the startup costs of this investment, it can be financially savvy to consider long-term projections and take advantage of the savings that are available.