NOW IS A GREAT TIME TO INVEST IN AN EARTHWARM GEOTHERMAL SYSTEM

The cost of heating and cooling our homes and businesses has skyrocketed in the last couple of years. Our budgets are straining under that pressure. The sooner you install a geothermal system the sooner you can start enjoying the savings. The ideal way to pay for your initial investment is to use the money that you would have paid to the utility company for your fuel bill.

There are several other great programs that will reduce the initial investment:

Federal tax credit

The federal government has added heat pumps to an energy tax credit. You can deduct 30% of the cost of the system from your federal tax bill. the amount can be carried forward if you cannot use the total amount in the first year.

Utility company rebates.

Most providers of electricity are offering rebates when you install geothermal ground water systems. The amounts vary depending on the company and they do change over time. a check in late February of 2009 had East Central Electric offering rebates of $400/ton of heat pump capacity. Most homes use a minimum of 4 ton and often as much as 8 ton or more. That is a considerable savings. Xcel is offering $150/ton at the same time.

State or Utility Company loan and grant programs.

There are many different programs offered by the state and other institutions that are designed to help offset the cost of installing your system.

The North Carolina Solar Center has a compilation of the many programs that are available: www.dsireusa.org

Also check out the Econar web page for programs: http://www.econar.com