Colleen Baker
4/10/2018 6:26 PM
I am intrigued by the idea of developing geothermal energy resources at the household level for heating and cooling. According to the following article Geothermal Energy Pros and Cons by Mathias Aarre Maehlum Last updated June 1, 2013 (http://energyinformative.org/geothermal-energy-pros-and-cons/) ground round source heat pumps typically costs $3,000 – $10,000 and have a payback time of 10 – 20 years. I discovered that New Mexico has a tax credit to install a heat pump.
The New Mexico Geothermal Ground-Coupled Heat Pump Tax Credit will pay up to 30%, with a $9,000 maximum, of your geothermal ground-coupled heat pump system that is operational subsequent to January 1, 2010. This incentive is available for both personal and corporate income taxes for purchase and installation costs for these systems. In addition to this state tax credit, the federal government will pay 30% in a federal tax credit (Personal) or 10% (Corporate) for your geothermal ground-coupled heat pump system. New Mexico's incentive was passed by the legislature in 2009 to help citizens invest in clean energy for their homes or businesses.
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Neal Denton 4/12/2018 12:56 PMI've always found geothermal heat pumps fascinating also. Any attempt to work with the environment to improve our dwellings whether it's passive solar or simply harvesting rainwater makes alot of sense to me. I'm sharing your link with the team now. Thanks for posting!