geothermal diagram

Is Installing a Geothermal Heating System Worth the Investment?

November 21, 2018

Keeping your West Harrison, Indiana, home a comfortable temperature during the cold winter months is vital not only for your family’s comfort but their health as well. Since keeping your home warm during winter can be costly, you may also want to consider some energy-efficient options you can choose from. One option is installing a geothermal heating system in your Indiana home.

More Energy Efficiency

While a geothermal pump can be more expensive in terms of installation, the benefits can definitely provide for a better return on investment than many other systems. One of the benefits you can expect from a geothermal system include more energy efficiency.

The Department of Energy states that a geothermal heat pump has the ability to save homeowners between 25 and 50 percent on their heating cost during the year. The reason geothermal pumps are so energy efficient is that they only use one unit of energy to move three units of heat out of the earth and into your home. The savings you will gain on efficiency can offset the cost in about five years.

Federal Tax Credits Available

Since geothermal heat pumps are more energy efficient, the federal government provides homeowners with available tax credits to offset the costs of making the switch. In both Indiana and Ohio, you can earn up to 30 percent of the cost of your purchase in federal tax credits.

Check with your tax advisor if you have already installed a heat pump, as the credit can be applied retroactively to geothermal pumps that were "placed in service," as of January 1, 2017. To be eligible for the credit, the equipment must meet the ENERGY STAR requirements at the time it was installed. Credits can go towards preparation, assembly, and installation costs as well.

Take advantage of the energy efficiency and tax credits that can come by installing a geothermal heat pump. Contact Western Hills Heating and Air Conditioning at 812-227-3001 today.

Image provided by Shutterstock

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