Geothermal Heating Cost
Compared to other heating and cooling systems, geothermal heating cost can be significantly less because of special programs and incentives. Commercial and residential structures using geothermal heat systems qualify for certain tax incentives, and Triterra's knowledge about these systems can help you take advantage of these incentives and save more money on you geothermal project.
Using a geothermal heat system in a commercial building saves money. The system not only uses less energy, but also qualifies for the following tax incentives:
For commercial:
- Reduction of Energy Costs Program up to December 31, 2013.
Up to $1.80 tax deduction for increasing energy savings 50% above ASHRAE Standard 90.1-2001, partial is available if standard is not meet in all areas. - Investment Tax Credit or 10% Grant
10% investment tax credit for installed cost available through 2016.
10% upfront grant available if placed in service during 2009 and 2010
For residential:
- A 30% tax credit is available on Energy Star equipment and installation put in place before December 31, 2016.
Dollars and Sense: Comparing modern Geothermal Heat Systems with other methods of heating and cooling.
| Type of system | Cost per unit | Percentage | Cost |
|---|---|---|---|
| Electric resistance | $0.08 | 100% | $23.43 |
| Propane | $3.25/gal | 83% | $43.51 |
| Fuel Oil | $4.50/gal | 80% | $40.67 |
| Natural Gas | $1.30/therm | 93% | $13.99 |
| Geothermal | $0.08 | 3.5 COP | $6.70 |
Learn more about our geothermal heat services:
- Geothermal Heat Systems
- Geothermal Energy Consulting
- Open Loop Geothermal System
- Closed Loop Geothermal System
We would like to hear from you— contact us for more information on our service areas and what we can do for you.
