Homeownership in Iowa can be a great experience, especially for those who are looking for comfortable and affordable living in a beautiful Midwestern state. However, the cost of energy can be a major concern for many homeowners, which is why investing in a geothermal heating system can be a great investment.
Geothermal heating and cooling systems are an environmentally friendly and cost-effective solution for Iowa homeowners, offering a long-term solution to energy costs. This type of system uses the energy from the earth’s heat and transfers it to the home in order to keep it comfortable year round.
Geothermal heating systems are extremely efficient and can save homeowners thousands of dollars in energy costs over the long-term. These systems are also low-maintenance and require few repairs, meaning homeowners can enjoy the benefits of a reliable and energy-saving system without the hassle of frequent maintenance.
Geothermal Heating System Costs
The cost of installing a geothermal heating and cooling system can vary depending on the size and layout of your home, as well as the type of heating and cooling system that best meets your needs. On average, it can cost anywhere from $10,000 to $20,000 for a geothermal system, but the payoff in energy savings and comfort make it a worthwhile investment for many.
It’s important to factor in installation costs and maintenance needs when considering your budget for a geothermal heating system. Many homeowners opt to finance their geothermal system through their local utility provider or lender, making the costs more manageable.
Tax Credits and Rebates Available for Geothermal Systems
In addition to the long-term energy savings, there are tax credits and rebates available for homeowners who invest in geothermal systems. The Federal Tax Credit for Geothermal Heat Pumps offers a potential 30% credit for qualified systems through 2021, meaning homeowners can further reduce their overall costs.
Iowa also offers various incentives for homeowners investing in energy efficient systems. The Solar and Geothermal Tax Credit is available to qualifying taxpayers and provides up to 25% of the installation costs for qualified systems.
In addition, Iowa homeowners may be eligible for a Clean Energy Technology Loan that will cover up to 80% of the cost of a geothermal system. The state also offers a GeoSmart Loan Program, which will cover up to 70% of the system’s cost.
Geothermal Heating Systems Provide Numerous Benefits
- Energy efficient – Uses less energy to operate than traditional systems
- Clean energy – Natural, renewable source of energy
- Safe for the environment – No carbon emissions
- Cost effective – Can save homeowners thousands of dollars in energy costs
- Tax credits and rebates – Eligible for many special incentives
- Low maintenance – Minimal upkeep required
Iowa Homeowners Who Invest in Geothermal System Can Reap the Benefits
Investing in a geothermal heating system for your Iowa home can be a great way to reduce energy costs and enjoy more comfortable living. Along with the energy savings and environmental benefits, Iowa homeowners may qualify for tax credits and loan program to help offset some of the system’s cost. Invest in a geothermal heating system and you can take advantage of these savings and improve your home’s comfort for years to come.