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Do Geothermal Heat Pumps Deliver on Lifetime Costs?

Saving money with Geothermal Heating

It is always a good idea to check for the lifetime costs of any new heat pump that you install in your Columbia home instead of only the cost price of the unit at the time of purchase. The general idea here is to purchase equipment that last long and have low operational costs through out its lifetime. One such system is a geothermal heat pump. These heat pumps have a cost that appreciates over a prolonged period of time even though the initial investment may be quite high. These pumps will outlast other cheaper systems that may cost you a significant amount in terms of greater operational costs.

 

Geothermal heat pump lifetime performance

As per the estimation from the department of energy, the geothermal heat pumps outperform any other form of heating and cooling system. These heat pumps are able to derive free energy from the earth and use it to heat your home. As a result, it is calculated that geothermal heat pumps can return as much as $4 worth energy for every $1 you spend to run the system via electricity. To put things into perspective, consider a gas furnace with an efficiency of 98 percent. Research suggests that even these gas furnaces are nowhere in comparison with geothermal heat pumps.

 

Tax credits

The federal government has extended tax credits for high efficiency heating and cooling systems. However, the tax credit available for renewable sources of energy is as high as about 30%. This implies that homeowners who purchase geothermal heat pumps can save a greater amount in the form of low tax contributions as opposed to the high investment involved in installing the system giving you lower lifetime costs for your Columbia home.