As the world focuses more on renewable energy, geothermal energy and systems are gaining more significance among homeowners in the US. Not only is geothermal energy a renewable source and is supremely environment friendly but it is also the cost saving alternative to conventional energy sources.
What Is Geothermal Energy?
While the scientific definitions can go into unwarranted details of explanations, in simpler words for popular understanding, when the sun’s rays heats up the surface of the earth, heat energy is generated. This heat energy of the earth’s surface and crust is known as geothermal energy.
How Does Geothermal Energy Work?
Geothermal energy is extracted using systems that are installed in the homes. Normally these systems can be set up in backyards or anywhere that is feasible.
Who Sells Such Geothermal Systems?
There are quite a few companies who manufacture geothermal systems today as a part of their green projects. You can easily come across a reputed source online.
Benefits Of Geothermal Systems
Now, go green is an obvious given for all green projects but how can one actually save money with these geothermal systems? Moreover, it is widely known that just like solar panels, these geothermal systems also call for an investment initially that may appear to be a little costly. However, these benefits should help you to understand the financial benefits of such green projects or using renewable energy such as geothermal.
Geothermal energy can easily offer you five times the efficiency that you can obtain from conventional power sources which implies that your energy consumption would be cut down from anywhere between 40% o 70%.
Heating the rooms during winters and cooling them during summers consume more than 50 % of one’s monthly energy requirements. Using geothermal energy, these costs can be phenomenally reduced. Depending on the geothermal system you use and the city you live in, you can make huge savings.
Earning tax rebate and several other federal benefits are also another reason to use geothermal energy. It is well known that governments are promoting green projects and in many programs are also subsidizing the installation costs and the system costs to get more homeowners opt for renewable energy.
The initial investment costs can be recovered in about 5 years or around 8 years if you opt for the best geothermal systems. Considering that the life of a geothermal system is typically 30 years, the savings you can make for three decades largely outweigh the initial investment.