Offsetting Higher Initial Costs for Geothermal Heating & Cooling.:
In many areas, 100% financing is available from utility companies for geothermal installations by approved contractors. The Southern Company offers these financing programs through
Alabama Power, Georgia Power and their other subsidiaries. These programs are available to assist in offsetting the higher initial installation costs in geothermal systems resulting from ground loop
installations. 100% financing spreads the costs over a period sufficient for recovering and exceeding the initial costs through energy savings. Energy Star and other financing options are
also available for geothermal heat pump installations. As of June 2008, a $300 U.S. Federal Tax Deduction is available for individuals installing residential geothermal systems. States may offer tax
deductions as well. For school systems and other institutions, grants are available through the U.S. Department of Energy and State agencies for geothermal installations. In 2008 ADECA (State of Alabama) is offering up to
$25,000 grants to school systems for acceptable proposals on conversions to geothermal installations.
Assistance in exploring your financing options will be provided with any feasibility evaluation or proposal for Installation.
A geothermal installation will pay dividends over the course of just a few years.:
With 100% financing incentives, the initial additional costs are largely a moot point due to the energy savings that will be realized over the period of payoff. If making the full investment up front, your return on investment will pay handsome dividends over the course of
the 20 year life expectancy for a highly efficient geothermal heat pump and ground loop installation if continuing to own the property. Increased rental values, use value or resale value should be advantageous
for any type property regardless of the period of continued ownership given the significantly increased energy efficiency created with a geothermal installation.
