In our last post, we discussed the reasons to consider upgrading your home with an energy-efficient furnace. The bottom line was that a new 93% – 95% efficient furnace can save as much as 40% on your heat bill.
But if you want to save even more money, consider going “Geothermal.” A geothermal heating and cooling system is just about as energy-efficient and eco-friendly as is possible with today’s technology, while staying cost-effective in the long-run.
A geothermal heat pump system uses a series of tubes buried in the ground to heat and cool your home.
The cost of the electricity to run the system should be about one-third of the cost of heating fuel it replaces.
New technologies, including advanced “small footprint” tube installation procedures, make the use of geothermal a viable option for more Indianapolis-area homeowners than ever.
As an added incentive, homeowners who install a ENERGY STAR qualified geothermal heat pump in 2012 are eligible for a 30% federal tax credit on the total cost, with no upper limit. Visit the ENERGY STAR website to learn more.
A great illustration of how geothermal technology is starting to more widely used is right in our backyard. Ball State University is currently installing the largest ground source heat pump in the U.S., if not the world.
According to Tom Kinghorn, Ball State’s vice president of business affairs and treasurer, taking the current coal boilers offline will save the university $2 million a year when the project is completed, eliminating almost all of its $3 million annual fuel bill, but costing about $1 million a year in electricity to run.
Just as important, even after considering its increased demand for electricity for the new system, the university’s net carbon footprint will be cut approximately in half. It will also eradicate almost all of its $3 million annual fuel bill, but will cost about $1 million a year in electricity to run.
All in all, a pretty good deal, if you ask us. For a closer look at Ball State’s geothermal project, read the NY Times “Green” Blog article, Finding Energy Advantages Six Feet Under.
Visit the Thiele Heating & Air Conditioning website for more information about geothermal heating and cooling systems. For a free in-home evaluation of your existing furnace and the benefits of a new geothermal heat pump, call 317-639-1111 to schedule an appointment.