By admin on July 13th, 2010. No Comments »
We have discussed the many pros of heating/cooling your new or existing home with a geothermal heat pump system. You have probably found by now that geothermal will save you lots of money on your heating and cooling bills in the long run, even enough to pay for itself. These facts however, do not help in coming up with the money for a system. Here are a few things to consider.
1. Paying cash up front is always the best. This allows you the immediate comfort of a geothermal heating and cooling system. For most of us, cash is not an option and considering financing is the next step.
2. A home equity loan or adding to your existing home equity loan is the most popular way to pay for your geothermal system. Adding a green energy system to your home often adds value in addition to the monthly savings you enjoy.
3. When deciding if now is the time to purchase your geothermal heating /cooling system, take into account how long you plan to stay in your existing home . Also important is the age of your current furnace system. It may be time to switch out your gas/oil furnace in the near future anyway.
4. Consider an “Energy Efficient Mortgage” or EEM if buying or refinancing you home. According to the energystar.gov website, EEMs give borrowers the opportunity to finance cost-effective, energy-saving measures as part of a single mortgage and stretch debt-to-income qualifying ratios on loans thereby allowing borrowers to qualify for a larger loan amount and a better, more energy-efficient home. Learn more at http://www.energystar.gov/ia/partners/bldrs_lenders_raters/EEM_Fact_Sheet.pdf
5. Furnace Manufacturers may offer financing for part or all of the project. Be sure to choose a reputable HVAC dealer and loop installer
6. The best financial reason to install geothermal continues to be that 30% of your investment will be returned on your taxes!
Enjoying the comfort and savings of a geothermal system may be only a few creative financing decisions away. Good Luck!
Becky
Posted in Geothermal heating and cooling, geothermal cost, tax rebate
By Becky on June 9th, 2010. No Comments »
These are exciting times my friends. If you have been thinking of greening up your heating system and making it more efficient, this scenario is just too good to pass up.
The tax credit cap was lifted on Geothermal Heating and Cooling Systems and their loops for the first time in history. Because of the American Recovery and Reinvestment Act of 2009 Geothermal systems can receive a 30% tax credit if placed in service before December 31, 2016. Previously the geothermal tax credit had been limited to $2000.
This is a real tax credit not a deduction. A tax credit reduces tax owed dollar-for-dollar –while a tax deduction only removes a percentage of that owed tax. There has never been a better time to invest in Geothermal Heating and Cooling Technology.
An investment is the only way we can describe this particular scenario. Geothermal Heating and Cooling Systems achieve Energy Efficiency Ratings in the 30’s. When you consider the return on investment in energy savings (up to 50% or more) coupled with geothermal tax incentives, you cannot afford to put your money anywhere else!
Join us as in our future posts we explore the world of geothermal heating and cooling and how homeowners can make this green technology work for them. For more than 15 years we’ve been installing geothermal loop and we are VERY excited about the future.
Posted in Geothermal heating and cooling, geothermal cost, tax rebate
By Greg on March 9th, 2010. No Comments »
Geothermal is a buzz word found in many circles of the energy sector. But homeowners searching for geothermal energy information for their homes may find much more than they bargained for. Internet searches turn up all kinds of scientific jargon about geothermal and geothermal energy.
One search may take you to hot rocks, or magma, found beneath the earth’s crust that can be used to produce unlimited energy called Geothermal energy, or ‘Big G.’ This heat can be extracted from the ground to be used as direct heat or to drive electric producing turbines. However, ‘Big G’ is limited to a minimal number of areas around the world where the magma is accessible.
Another search may introduce you to ‘Little g,’ which refers to the energy stored in the ground to depths up to 500 feet from solar radiation. By a process referred to as geoexchange, this energy is captured by water circulated through a series of pipes in the ground and converted into heat for your home. In the summer months and in warmer climates, a geothermal furnace collects the heat in your home and re-deposits that energy into the ground. In essence, it’s a form of recycling.
Geoexchange is the term given by the Geothermal Heat Pump Consortium to describe ‘Little g.’ More can be read on this topic by visiting NationalDriller.com.
To learn more about residential ‘Little g’ geothermal system installation, visit YoderGeothermal.com.
Posted in Geothermal Politics, geothermal wells
By Greg on January 13th, 2010. 1 Comment »
Yes, you heard right! The 30% geothermal federal tax credit for installation of a system does not end until December 31, 2016.
The Emergency Economic Stabilization Act of 2008, signed into law October 3, 2008 created a tax credit for the installation of a geothermal heat pump system in new or existing homes. The American Recovery and Reinvestment Act of 2009 expanded this credit by removing a $2000 cap for qualified installations placed into service beginning January 1, 2009.
Be sure to take advantage of this credit when installing your geothermal system. It’s easy to claim. Just use IRS Form 5695 when you file your taxes.
Form 5695 is also used for claiming residential energy credits for other home improvements like insulation, exterior windows and doors, and roofing.
With a full 30% tax credit, there’s no better time than now to check out the benefits of geothermal heating and cooling for your home.
Posted in Geothermal heating and cooling, tax rebate
By Greg on December 23rd, 2009. No Comments »
Great news for the geothermal industry! Water-to-water geothermal furnaces have now earned the Energy Star rating for the first time. With this new approval, homeowners who install these popular water-to water geothermal systems will now be eligible for the 30% federal tax credit!
We all knew these systems could save homeowners a lot of money on their heating bills in winter, but now the water-to-water unit has been given the “green light” of approval. Watch for this market to make a big splash in 2010 and the following years.
Water-to-water geothermal heat pumps use the same earth loop found in water-to-air geothermal units, but instead of heating air, they heat water that is circulated through tubing under your flooring. This type of heating is also called “radiant heat” and has been used with gas boilers for many years. Geothermal is a way to lower the cost of this type of heating while improving the environmental impact.
Posted in geothermal cost, geothermal wells
By Greg on December 12th, 2009. No Comments »
This Sunday night at 8/7c, ABC-TV’s Extreme Makeover Home Edition will air a 2 hour special with guest star Mary J. Blige. This week’s rebuild is for a woman with a degenerative muscle disease who dedicates her life to helping children and families in the city of Erie, PA. The program, which usually covers the build in just a one hour show will feature even more footage during this week’s two hour holiday special.
The Exteme Makeover Home Edition team who is focusing more attention this year on energy efficient homes, decided to include a geothermal heating and cooling system in the Ward Family’s build. They partnered with Maleno Development, a family owned and operated builing company serving the Erie community with energy-efficient homes.
To complete this project, Maleno Development called for volunteers from the community and well beyond. One such volunteer was Yoder Drilling & Geothermal, a company with 20 years of experience in geothermal loop system installations. Because the Ward family’s home is located on a small lot in the city of Erie, installation of the geothermal system required a specialized drilling company. Yoder Geothermal got the call.
Read more about this exciting event by visiting www.YoderGeothermal.com and following the Extreme Makeover Home Edition link on our home page. Also be sure to join us this Sunday night at 8/7c on ABC to see the dream unfold for Clara Ward and her family.
Posted in ABC-TV's Extreme Makeover Home Edition, geothermal installation
By Greg on December 8th, 2009. No Comments »
We’re excited to announce a brand new look for YoderGeothermal.com. This site is dedicated to providing reliable geothermal information for residential installations across much of Ohio and western Pennsylvania and West Virginia.
Geothermal was once a term only talked about in classrooms across the Ohio Valley. Today, homeowners all across the area are taking advantage of stored geothermal energy in the ground around their homes.
The word Geothermal literally means “Earth Heat” which is exactly what it is. And geothermal systems are able to capture that heat and deliver it efficiently into homes anywhere in the world.
In the summer, or warmer climates, these systems are designed to use the ground as a deposit for heat captured in your home providing you with a comfortable air conditioned environment.
Why is geothermal a renewable resource? Geothermal energy comes from the suns rays, of which the earth absorbs 40%. That’s more than 500 times what mankind can use in a year. Geothermal systems simply extract that heat in the winter and return it to the earth in the summer, renewing the ground for another season.
If you’re looking for an alternative to the traditional fossil fuel systems, look no further. Geothermal is the most cost effective and money saving heating and cooling system on the market today. At efficiencies around 400% in many cases, it’s between 3 and 5 times as efficient as other options on the market.
Be sure to check out our new web site and begin saving energy the geothermal way.
Posted in geothermal cost, geothermal installation, quality geothermal loopers
