Heat pumps are quickly becoming a popular option for New Jersey and Pennsylvania homeowners, offering energy savings, reliable operation, and an all-in-one heating and cooling solution.
But actually, when people think of heat pumps, what they are likely thinking of are a specific kind of heat pump: air source heat pumps. There are other kinds, one of which is the ground source heat pump, or geothermal heat pump.
Geothermal systems are one of the most power and energy efficient HVAC systems available, saving energy while offering consistent heating and cooling solutions by tapping into the earth's consistent underground temperatures.
How Does Geothermal Energy Work?
The concept behind geothermal energy is straightforward. About six feet under the ground, temperatures remain remarkably stable throughout the year. Geothermal heat pumps harness these temperatures, either to add heat to your home or to remove it, depending on the season.
The primary element of a geothermal heat pump is the ground loop. The ground loop is a series of pipes buried in your yard which circulate a water-antifreeze solution. This solution is the mechanism by which heat is either drawn from the ground (to heat your home) or dumped (to cool it), providing your home with a steady source of heating and cooling.
How You Can Benefit from Geothermal Energy in Your Home
The long-term benefits of installing geothermal energy in your home are many:
- Reduced Heating and Cooling Costs: Geothermal systems reduce energy use by up to 72% compared to standard air conditioners and up to 44% compared to air source heat pumps! This kind of energy savings can translate into much lower energy bills.
- High Efficiency: Geothermal systems utilize one unit of electricity to deliver up to five units of heating or cooling to your home. Geothermal uses less energy, making your home better for the environment.
- Quiet Operation: Because so much of the system is installed underground, geothermal heat pumps operate with minimal noise, creating a quiet, more comfortable home.
- Durable and Low Maintenance: With lifespans often exceeding 20 years for indoor components and 50 years for the ground loop, geothermal systems are a long-term investment. They also require minimal maintenance, meaning once your system is installed and running, you can rely on it for years and years of high quality operation.
- Average Payback Period of Under 10 Years: While geothermal systems are often more expensive than other heating and cooling systems to install, they are so energy efficient that you’ll quickly recoup your costs. According to the Department of Energy, the average homeowner will recoup their costs within a decade, meaning you’ll have years and years of significant energy and cost savings left to enjoy with your system.
Save Big with a 30% Geothermal Heat Pump Tax Credit
Choosing geothermal heating and cooling isn’t only a wise environmental choice; it’s also financially smart with the availability of a 30% federal tax credit for your geothermal installation costs. There’s no maximum, either, which means potential savings of thousands of dollars.
The tax credit can be claimed against any federal taxes you owe when you go to file for the year that you installed your geothermal system. Even better, any unused credit can be rolled over to the following year.
Princeton Air also provides financing options to make your shift to geothermal energy even more affordable and worthwhile. The pressing question isn’t so much, “Is geothermal worth it?” but “How quickly can you start enjoying its numerous benefits?”