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Geothermal Tax Credits are Back!

The reinstated GHP tax credits are retroactive to Jan. 1, 2017, and extended to Jan. 1, 2022.

Get answers to your Questions.  Mid-Coast Energy Systems are happy to answer your heating & cooling questions about geothermal.  Find out about energy efficiency, maintenance and cost of installation. Discover how important it is to properly size a geothermal system based on demand.  Data supports the many benefits of choosing geothermal to heat & cool in Maine.

geothermal installation Warren Maine

geothermal installation Warren Maine

Rates for fossil Fuel will only get worse. Heating fuel is slowly creeping back up in price, and will likely remain volatile in the future.  A geothermal system provides a renewable source of energy by using heat from the earth that is stored beneath the ground on the property.  Geothermal systems yield impressive savings to the homeowner from the first day of use. Once the system is paid off, the only monthly utility bill remaining is for minor electricity to run the heat pump.

Initially, geothermal is more expensive than other heating & cooling systems to install.  In the long term, statistics prove that savings far outweigh the cost of installation (when compared to other fuel sources over the same time period.) A 30% federal tax credit and  $5,000 Efficiency Maine rebate are now available.

What Happened to Solar?

THEN AND NOW: What Happened to Solar? ~ By Gina Philippon

Those of us who pre-buy our heating fuel eagerly await that notice in the mail or the banner hanging across Main Street advertising the per gallon price for the approaching heating season. It was the summer of 2008 when the price for heating oil was advertised by some dealers at or above $5.00 / gal. I can clearly remember the collective outrage, anger, frustration and fear that we all felt over those prices and the fingers of blame being pointed at government, politicians, speculators, big oil and OPEC. However frustrated we were, those prices were our reality and we had to find a way to survive with them.

At MCES we had been installing solar hot water collection systems for some time on a limited basis but the demand for alternatives to fossil fuel seemed to go wild that summer and the few years following. We were visiting homes, designing and estimating solar hot water systems as fast as we could. The demand was strong and sales were brisk. The evacuated tube arrays were big sellers followed by the Velux flat plate collectors. A well designed and installed solar hot water system could produce 65% – 70% of a homes annual hot water needs. Most during the summer months with some limited production in the winter. Federal Tax Credits helped to offset the $10,000 + cost of installing a typical system.
During the few years following that price spike, prices came down, leveled off and we all got accustomed to budgeting for our energy. As that happened, solar demand dropped to nearly nothing. The actual reason is unknown but likely is a combination of becoming accustomed to prices, fuel prices dropping and the advent of the heat pump water heater.

A $3,000 hybrid electric heat pump water heater can produce as much renewable hot water as a $10,000 solar collection and storage system. The heat pump water heater takes up less space, can be installed in one day, requires nearly no maintenance and currently Efficiency Maine is offering a $750.00 rebate while funds are available and eligibility requirements are met. Demand for heat pump water heaters has been strong for several years and MCES has installed dozens of them.

There are other factors that contributed to the decreased demand for solar systems. Higher efficiency factors for electric water heaters, high efficiency propane and natural gas boilers paired with indirect fired water heaters and on-demand continuous flow propane water heaters are a few reasons. If you are interested in saving fuel, saving money, saving the environment or a combination of all three, a heat pump water heater may be a good option for you. Call 1-800-890-7196 today for your no cost quote.

HOW DO HEAT PUMPS WORK?

Over the past several years, more and more of our customers have become interested in learning about heat pumps for obvious reasons.  Ductless heat pumps are an attractive & highly efficient way to heat and cool an area because they extract heat from outdoor air (even when it is very cold) and deliver heat energy into homes and businesses in the winter and cool air in the summer.

Ductless heat pumps (or “mini-split”) distribute heat and cooling directly to the spaces where they are installed, rather than through a ducted system.  They have an outdoor unit connected to an indoor unit via small, copper refrigerant lines. By using these lines instead of ducts, these ductless systems are (usually)  easily retrofitted into existing homes, apartment buildings, and commercial spaces. They also serve to minimize distribution losses due to air leaks.

Right now, rebates of up to $750 and low-interest financing is available on eligible units.  $500 rebates are available toward installation of ductless heat pumps that provide a single or first zone of heating in your home. An additional rebate of $250 is available for ductless heat pump installations that provide a second zone of heating in your home. 

Thinking Geothermal? How to Qualify for Tax Credits that End Soon

If you have been thinking geothermal, you should know that 30% Federal Tax Credit for is set to expire on December 31 of this year

 

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In order to qualify for the Tax Credit, a qualifying unit must:

  • meet the Energy Star Most Efficient guidelines at the time of installation
  • be completely  installed & operational
  • paid in full

  Before December 31st, 2016

Although legislation has been introduced Legislation to extend the Sec. 25D Residential Energy Efficiency Property Credit for five years beyond its sunset date of Dec. 31, 2016, there is no guarantee – so contact Mid-Coast Energy Systems today.

So if you have been on the fence about installing Geothermal, or saving up for a system, you should act now to schedule a no-cost geothermal evaluation.  MCES is currently booking spring 2016 geothermal installations.

 

Geothermal could make your Life Better

Many people ask us how Geothermal Heating & Cooling Works…

Here’s How……

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Geothermal Heat Pumps use the nearly constant temperature underground to heat or cool a buildings interior

  1. Ground loops filled with fluid absorb heat in the winter and release it in the summer.
  2. The evaporator transfers heat from the ground loops to refrigerant fluid circulating in the system.
  3. The compressor increases the pressure on the fluid to raise its temperature.
  4. The desuperheater takes some of the excess heat and routes it to the hot water heater.
  5. A reversing valve lets the heat pump switch directions to either heat or cool the building.
  6. The expansion valve lowers the fluid’s pressure and temperature so that it flows toward the evaporator, and the cycle starts again.

 

Benefits:

  • Comfort: In homeowner surveys, these systems are routinely ranked as “more comfortable” than conventional gas, oil or electric systems. They provide a more comfortable and even heat with no odor of fuel.

 

  • Quiet: Also provides air conditioning eliminating the need for the traditional noisy outdoor A/C unit.

 

  • Longevity: Has a life expectancy of at least twenty years.

 

  • Environmental Factor: Geo systems are an environmentally conscientious choice.  You can immediately cut your emissions up to fifty percent: the equivalent of taking several cars off the road.

 

  • Generous Tax Credits: Are set to END in December of 2016.