Economic Incentives for the use of Geothermal Systems
Environmental Benefits:
EPA found that geothermal heating and cooling (geothermal heat pumps) systems can reduce energy consumption — and corresponding emissions—by more than 40% compared to air source heat pumps and by over 70% compared to electric resistance heating with standard air-conditioning equipment.
Geothermal systems use the Earth’s energy storage capability to heat and cool buildings, and to provide hot water. The Earth is a huge energy storage device that absorbs 47% of the Sun’s energy – more than 500 times more energy than mankind needs every year – in the form of clean, renewable energy. Geothermal systems take this heat during the heating season at an efficiency approaching or exceeding 400%, and return it during the cooling season.