There are a number of home geothermal benefits. Why use an endangered resource like fuel or gas that can pollute the atmosphere when you can use a source of energy can be tapped forever – without consequence. Geothermal energy is unique because it uses the power of the core of the earth, which is about as hot as the surface of the sun – about 10,000 degrees Fahrenheit. By only drilling a few hundred feet into the earth, homeowners can tap into this amazing energy source that has been powering the earth for millennia. Here are some of the pros and cons of switching to geothermal energy at home.
One of the biggest pros is that after rebates, tax breaks and state grants, you could be paying a fraction of the amount you would be paying with a traditional HVAC system. While the upfront costs of drilling and installing a geothermal unit can be high, you could be getting a 30% tax break on utilizing geothermal power – plus state property tax breaks and even state grants, which could range between $3,000 and $5,000. At the end of the day, you could be paying between $5,000 and $10,000 for your geothermal unit – opposed to twice as much for a traditional gas or electric unit.
One con, however, of utilizing geothermal energy is that you need a lot of square footage, so if you don’t have a lot of space, a geothermal unit might not be the best option. When it comes to the actual geothermal unit, it needs to be placed inside your home – if you don’t have a large garage or basement, it probably won’t fit. So, you might have to sacrifice a little bit of space to accommodate the geothermal unit.
However, another big pro is that there are extremely low costs to actually run the unit. Each year, you could be paying up to $2,000 less on your utility bills, because geothermal units don’t need to rely on gas or fuel to operate. This also means that you don’t have to get the geothermal unit maintained as regularly as you do when you have a traditional gas or electric unit. In fact, with the collective annual savings, you could be making the money that you put down on the unit back in less than four years, which can be another big reason to make the leap and install a geothermal unit.
Lastly, one of the biggest pros of a geothermal heat pump is that it has a limited impact on the environment. If you are looking for a way to lower your environmental impact and decrease your carbon footprint, a geothermal unit is your best option. This is because geothermal units produce almost no emissions. Geothermal units use a minimal amount of electricity to actually pump the geothermal energy, but compared to the emissions that are given off by power plants as a result of homeowners blasting their traditional air conditioners, geothermal energy doesn’t even come close.