How much of your monthly budget is spent on utility costs? In some homes, heating, cooling, and hot water bills represent as much as 70% of your overall home’s operating costs. Combine this with the annual expenditure on gas and transportation (Did you hear the recent study that the average homeowner spends more than $1,500 on gas each year?? Ouch!). These are pretty big hits to the pocketbook! As expenses rise, homeowners like you are looking for more creative ways to save.
At HB McClure, we are hearing more and more requests for geothermal heat pumps. Why? Because homeowners are beginning to realize the financial benefits to installing a geothermal heating and cooling system. What was once viewed as a luxury system is now becoming the “go to” HVAC technology for people who need to replace a heating system or are building a new home. We get a lot of questions about how geothermal works. If you have questions about the technology and the benefits, check out our geothermal heating and cooling FAQ page. HB McClure is actually central PA’s most experienced geothermal heating and cooling installation (and service!) contractor. We’ve been installing geothermal systems since the 1970s and have installed thousands of systems since then. We’re amazed at the increase in installations – particularly with existing homes (also called retrofitting).
If you want to reduce your utility costs (long term), improve your home’s overall energy efficiency OR if you need to replace your current heating and cooling system, consider geothermal. Here are some facts you should know:
Geothermal is not just for heating Yes, it’s called a geothermal heat pump. But it cools just as efficiently as it heats. During the summer, geothermal heating and cooling systems absorb heat from your home and transfer it to the underground loop where it is then absorbed by the cooler earth. The geothermal heat pump uses the cool water returning from the earth to create cool, dehumidified air for your home.
Geothermal is proven to reduce energy bills Yes, the same can be said for high-efficiency traditional air-to-air heat pumps and other heating and cooling systems (that operate above a certain efficiency level). But look at the efficiency levels delivered by a geothermal system: up to 40% reduction in monthly bills, additional savings when a domestic hot-water assist function is added and a whopping 400% improvement in energy efficiency compared to specific types of traditional systems resulting in up to 80% savings in HVAC costs.
Return on Investment is Faster than You Think Homeowners considering a geothermal system often talk themselves out of the change because they mistakenly believe that it will take too long to get their money out of their new system. Geothermal installations can deliver an ROI as fast as 4 years. Don’t talk yourself out of an investment that will pay dividends in multiple ways (through reduced costs and increased home value) because you think it will take too long to demonstrate an ROI. We often refer homeowners to an easy-to-use ROI calculator. Visit the ClimateMaster website to learn more www.climatemaster.com/residential/svcalc/sc01.php.
Other benefits from installing a geothermal system (in an existing home or a new home) People choose geothermal for more reasons than the monetary savings. A geothermal system will also eliminate the noise and clutter of an outdoor heat pump unit (because geothermal systems don’t have an outdoor unit). They are also proven to boost the resale value of residential and commercial properties. Through 2016 (at the time of this article), there are federal tax credits of up to 30% to help homeowners finance geothermal installations. While your HVAC contractor can help you understand this information, you should continue to rely on your tax advisor or accountant when considering this option. It’s important to know that with the tax credit applied MOST geothermal systems are comparable in price to a traditional air-to-air system (at a high efficiency level). But with a higher pay back. We encourage you to at least explore this option when considering a new heating and cooling system. HB McClure is central PA’s leading geothermal expert for residential and commercial installations. We are happy to discuss this option with you. Give us a call at 717-232-4328 to discuss your home’s specific needs, potential savings, and our unparalleled experience.