Geothermal Heating

Energy Efficiency

Compare that to even the best ordinary system that delivers less than one unit of energy for every unit it consumes. That translates into an efficiency rating exceeding 530%, compared to the most efficient gas furnace which rates only 98%. Since two-thirds of the average building's energy bills come from heating, cooling, and hot water, installing a geothermal system reduces the energy usage so much that Summit Pointe can operate on what the solar or wind component is producing.

Environmentally Conscious

Geothermal systems are recognized by the United States Environmental Protection Agency as the most environmentally friendly, cost-effective and energy-efficient heating and cooling technology available. These systems also minimize the threats of acid rain, air pollution, the greenhouse effect, and global warming—problems directly linked to the burning of fossil fuels. In fact, installing a single geothermal unit is the environmental equivalent of planting 750 trees.

Geothermal Fiscal Implications

Depending on where you live, costs for a 16 SEER air conditioner and a 92 AFUE furnace can vary greatly—but they can reach $13,000 in many areas. The cost to install a geothermal heat pump varies based on many factors (geography, ground composition, size of the property, equipment chosen, etc.) but could cost $25,000 in the same areas. There's currently a 30% US federal tax credit through 2032. That's $7,500 as a credit on your taxes, not just a deduction. The initial cost difference between an ordinary system and a geothermal system is just $4,500. Summit Pointe would utilize a geothermal heating system 15X the size of a traditional residential property, thus costing roughly $375,000 for the development. However, this would be counterbalanced with a $112,500 tax credit and the subsequent energy generation, expecting a total time of repayment for the initial investment of around 3.5 years from instillation.