2023 Guide to Geothermal Heat Pumps
Geothermal heat pumps, also known as ground source heat pumps, are one of the most efficient heating and cooling systems available. They can lower your energy bills, reduce your home’s carbon footprint, and make your home more comfortable. In this guide, we’ll go over all the basics with geothermal heating and cooling systems, from understanding how they work to how you can save on geothermal installation with available incentives to Finger Lakes residents.
How a Geothermal System Works
The main difference between a geothermal heat pump and an air-source heat pump is that geothermal uses the ground as its source of heat—which is why it’s so efficient. Air-source heat pumps have to work harder to exchange heat when temperatures drop below freezing, while the soil maintains a consistent temperature of about 50 degrees, regardless of the time of year or location.
A geothermal system utilizes stable underground temperatures to create efficient heating and cooling using a piping system, heat pump, and a distribution system. The piping system, commonly referred to as a ground loop, is buried 6 ft or more below the surface on your property and filled with liquid to absorb the ground’s heat. The ground loop is connected to a heat pump on the surface, where the liquid is pumped through to warm the air before it is distributed through your home’s ductwork.
In the winter, a geothermal system will draw heat from the ground and use it to warm your home, while the process is reversed in the summer. There are some requirements of geothermal systems, so call our experts to help you decide on the solution that's right for your home.
Advantages of Geothermal Energy
Geothermal energy is nothing new, but it has recently been put in the spotlight as one of the most important renewable energy sources available today. Here are just a few of the many benefits a geothermal heating and cooling system can provide:
- Quiet operation
- Longer lifespan than other HVAC systems
Reliable & Clean Source of Energy
Geothermal energy isn’t impacted by weather, seasons, or climate and will always be available. It also doesn’t extract energy from fossil fuels and produces about ⅙ less carbon dioxide compared to energy from a natural gas power plant.
Geothermal systems use 25-50% less electricity than conventional heating and cooling systems because geothermal systems only move heat from one place to another and don’t have to work with extreme temperature changes.
Geothermal is More Affordable Than Ever
We aren’t the only ones that recognize the efficiency and benefits of geothermal. The federal government, the state of New York, and many utility companies now offer rebates and incentives for switching to a geothermal heat pump in your Syracuse home.
2023 Geothermal Incentives in New York
There are many tax credits, rebates, and other incentives available for Finger Lakes residents to switch to a geothermal heat pump. The experts at Halco can help guide you through the entire qualification process and offer financing options to fit any budget. Here are some of the incentives available now.
IRA Geothermal Tax Credits
The Inflation Reduction Act federal tax credit offers homeowners a new way to offset the cost of geothermal heat pump installation, here are the details:
- Tax credit equal to 30% of your total geothermal installation costs
- No claim limit
This geothermal federal tax credit is available now, with additional IRA rebates coming soon.
Geothermal Energy System Credit
The New York state tax credit is equal to 25% of your qualified geothermal energy system equipment expenditures, with a $5,000 limit.
NYS Clean Heat Rebate Program
New York State's Clean Heat program is offered to homeowners through their utility company (NYSEG, RG&E, National Grid) for the installation of geothermal heat pumps. The incentive amounts vary depending on the installed heat pump's total heating capacity.
At Halco, we are experienced with installing different types of geothermal heating systems in New York homes. We’re focused on providing high-quality energy solutions to our clients and want to make the process as easy as possible. If you’re looking to upgrade your HVAC to a renewable energy solution, consider geothermal heat pumps and give Halco a call.