New reports show Geothermal to be, “One of the most mature and stable platforms of renewable energy usage…” High consumer satisfaction, green building growth, and programs to reduce first cost are rocketing geothermal heating and cooling into the US mainstream.
Geothermal heating and cooling technology has been an organized technology for more than 40 years, having been applied successfully for over 70 years. Geothermal systems are the most efficient air conditioning and heating technology available, providing premium comfort and remarkable equipment longevity, storm resiliency and impressive tangible benefits available only to those implementing the technology. Still, the technology has achieved only minor market penetration in the US, while the retrofit market in Canada and some European countries are favored with retrofit factors approaching 40% of equipment replaced /upgraded.
In 2009, the US Stimulus Act provided tax incentives equal to 30% of the cost of geothermal HVAC installations for new construction, retrofits or upgrades. This incentive bolstered efforts to implement geothermal installations throughout the US. This has served to provide a base of well-trained tradesmen and professionals proficient in design, installation, and maintenance of geothermal HVAC systems, adding significantly to implementation of geothermal heating and cooling systems in new homes.