Save Money With Geothermal

 by J. Hensch

Real Energy Savings From Geothermal
Geothermal is not an empty promise about energy savings, the EPA has stated that geothermal heat pumps provide savings of from 50% to 70% when compared to conventional heating and cooling technologies.
None of us can predict what electric and other utility rates will be in the future, but it is a safe bet that they will increase.
It does not matter if you are building a new home or simply wish to control the monthly heating and cooling costs in your current home, geothermal systems can provide the solution you need.
Combined with the new Federal Geothermal Tax Credit, owning a high efficiency geothermal system has never been a easier decision.
Below is a great geothermal technology company, the technology is called called Direct Exchange or DX for short. They offer a small footprint system that is perfectly suitable for both new construction or upgrading your current heating and cooling system
http://geothermal-dx.com/
Below is some information on the new tax credit, as always consult a tax professional for the application of this credit in your particular situation.
Federal Geothermal Tax Credit
The American Recovery and Reinvestment Act of 2009, H.R.1 (the Stimulus Bill of 2009) that was signed by the President on February 17, 2009, contains long-term tax incentives to encourage the installation of geothermal heat pumps in residences. The new law, effective January 1, 2009, offers a one-time tax credit of 30% of the total investment for geothermal heat pump installations without the limit of $2,000 that was part of the law enacted in 2008.
It should be understood that a tax credit is generally more valuable than a tax deduction of the same magnitude because a tax credit reduces the tax obligation directly, while a deduction only reduces taxable income. Therefore the reduction in tax is only a fraction of the deduction.
While it is expected to take many months for the IRS to release the updated forms and instructions for filing to claim this credit, it is expected that the credit will be treated as a refundable credit, so they not only directly reduce the amount of tax payable, they could bring a taxpayer's tax obligation into the negative.
A tax credit of 10% of the total investment is also available without a maximum credit limit for commercial installations.