Geothermal means heat derived from the earth. In order to tap into the Earth's thermal energy, a ground source heat pump (GHP) is utilized. GHPs are electrically powered systems that tap the stored energy of the greatest solar collector in existence, the Earth. GHPs are one of the most efficient ways to heat and cool a home. More and more homeowners are discovering the benefits of these systems, which tap the relatively constant temperature of the Earth. Simply put, a GHP system moves the heat from the Earth into the home in the winter, and pulls the heat from the home and discharges it into the ground in the summer.

 Also, as an added bonus you can utilize the waste heat removed from the home's interior during the cooling season to provide virtually free hot water. This can result in a total savings in hot water costs of about 30% annually, and further lower your homes total emissions.

Geothermal can be used in conjuction with solar, radiant floor systems, and can be used to preheat domestic hot water.
The Stimulus Bill signed by the President on February 17th eliminates the $2,000 limit on the 30% tax credit for homeowners who install geothermal heat pump systems in 2009 and later years. For systems placed in service in 2008, the $2,000 limit still applies So, for example, if a homeowner pays $15,000 for a geothermal heat pump system installed in 2009, a tax credit of $4,500 could apply.

For systems placed in service in 2008, use IRS 2008 Form 5695 for the Residential Energy Efficient Property Credit to claim the $2,000 tax credit for Energy Star geothermal heat pumps. You can view and download the form at the following link: http://www.irs.gov/pub/irs-pdf/f5695.pdf
 
United Power is offering HUGE rebates! Up to $2500 per heat pump and $150 per ton!

 GO GREEN

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Colorado Geothermal Drilling offers the most energy efficient heating & cooling system available

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Your Front Range Geothermal Specialist
What is Geothermal?
Article on MSNBC:
Expanded Tax Incentive Encourages Installation of Geothermal Heating and Cooling Systems
Legislation Allows Full 30 Percent Tax Incentive
Geothermal Tax Credits!
Colorado Geothermal Drilling
Visit http://www.dsireusa.org/ to find additional tax incentives that may be available in your state.
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