If you’re considering switching out your furnace, pay serious attention to selecting a geothermal heat pump (GHP) and solar panels to help power it. This combination can lower your utility bills substantially and give you the most durable heating and cooling system available. The Department of Energy (DOE) estimates that you can save 50 percent on your utility bills with a geothermal heat pump, and this statistic doesn’t estimate your savings by including solar.
Along with the significant energy savings you can gain with solar and a GHP, the government is offering a federal tax credit which you can take advantage of through the end of 2016 to offset the cost of both the heat pump and the solar panels. If you install qualifying systems, you can deduct 30 percent of the purchase price, labor and installation for both. There is no limit on the amount you can claim, as long as the equipment meets the DOE guidelines.
In our climate, the combination of solar and geothermal can provide year-round indoor comfort. geothermal heat pumps use a loop field placed underground where temperatures are stable year-round. In the winter, there’s plenty of stored heat for the heat pump to harvest. When you’re switching out your furnace with a GHP, you won’t have to worry about rising fuel or electrical prices. The energy underground is stable and free. The solar panels can also help you generate your own power.
The tax credits help amortize the cost of the equipment more quickly, and the long lives of a GHP and solar panels actually make this system one of the few that will pay you back over the long term. The loop fields for a GHP last up to 50 years and the indoor blower can reach 25 years with proper maintenance. A GHP doesn’t use an outdoor condenser, which frees up yard space, reduces noise and maintenance and lowers electrical consumption.
If you’d like more information about switching out your furnace with a GHP and solar installation, contact Stack Heating & Cooling. We’ve provided HVAC services for the greater Cleveland area since 1976.
Our goal is to help educate our customers in Cleveland, Ohio about energy and home comfort issues (specific to HVAC systems). For more information about furnaces and other HVAC topics, download our free Home Comfort Resource guide.
Image courtesy of Shutterstock