A 1.4 ton geothermal heat pump unit at an elementary school. Stimulus credits did boost sales of geothermal systems – the most efficient systems out there. (Photo courtesy of the National Renewable Energy Laboratory)
The Cash for Clunkers program is
not the only government incentive
for energy efficiency. The stimulus
package has incentives to make homes
more energy efficient. Mark Brush
took a look into the bigger part of
the tax credits – new home heating
and cooling systems:
Transcript
The Cash for Clunkers program is
not the only government incentive
for energy efficiency. The stimulus
package has incentives to make homes
more energy efficient. Mark Brush
took a look into the bigger part of
the tax credits – new home heating
and cooling systems:
Homeowners can get 30% of the cost of a new heating or cooling system refunded on their taxes. For most systems the government caps the refund at $1,500.
Trade groups say the credits didn’t do much for air conditioning sales this summer. They say the types of air conditioning systems eligible for the credit are just too expensive.
But energy efficient furnaces cost a lot less – so trade groups do expect the tax credits to boost furnace sales.
Francis Dietz is with the Air Conditioning, Heating, and Refrigeration Institute. He says the credits did boost sales of geothermal systems – the most efficient systems out there.
“That was a bright spot. That is a 30% uncapped tax credit. So basically a homeowner who has a geothermal heat pump installed can get back, as a credit, 30% of the cost of that.”
That’s a big help – because geothermal systems can cost between $15,000 to $28,000 to install.
For The Environment Report, I’m Mark Brush.