The Benefits Of Choosing A Geothermal Heat Pump Include Tax Credits
A geothermal heat pump offers many benefits for Florida homeowners, especially those who want to use one of the most energy efficient, durable and plentiful types of energy available, and it’s right under your feet. A geothermal heat pump use the energy stored underground to heat and cool your home, using electricity only to run the system’s components.
They’re so efficient that the federal government is offering a 30 percent tax credit for homeowners who install qualifying equipment before the end of 2016. The credit includes the cost of the equipment and its installation and there’s no cap on the amount that you can claim. The credit applies to new and existing homes, as well as primary and secondary residences. However, the credit does not apply to rental homes.
The credit offsets the higher cost of geothermal heat pumps, much of which is associated with the installation. Geothermal heat pumps rely on an underground loop field that collects or releases heat, and the costs associated with digging the loop field increase your installation expenses. However, over time, a geothermal heat pump actually pays for itself in reduced energy costs because these systems are so durable and use much less electricity than other kinds of heating and cooling equipment.
The loop field can last 50 years or more and the system doesn’t use an outdoor condenser. The indoor air handler has a life expectancy of 25 years, with proper maintenance. Since there’s no condenser, your yard is quieter and the systems have fewer parts to maintain. Additionally, using a geothermal heat pump can reduce your energy consumption by as much as 44 percent compared to air-source heat pumps.
If you’d like to learn more about geothermal heat pumps, and how you can take advantage of the tax credits and increase your indoor comfort while saving on your electric bill, contact Rinaldi’s Air Conditioning. We’ve provided HVAC (heating, ventilation and air conditioning) services in the Orlando area since 1969, and can help you with all of your heating and cooling needs.
Our goal is to help educate our customers in Orlando, Florida and surrounding areas about energy and home comfort issues (specific to HVAC systems). For more information about geothermal heat pumps and other HVAC topics, download our free Home Comfort Resource guide.
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