
Builder Grounds Business on Geothermal Heat Pumps
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While residential GHPs cost more upfront than other HVAC systems, more than 20 states offer incentives programs to help offset the cost if the system is part of an energy-efficient home. For example, Oklahoma allows a contractor who is the primary builder of an energy-efficient home substantially completed after December 31, 2005, to claim an income tax credit beginning in 2006. The contractor can take a tax credit for the amount of the eligible expenditures, not to exceed $2,000 for a home that is between 20 percent and 39 percent above the 2003 International Energy Conservation Code, or $4,000 for a home that is 40 percent or more above the code. Find incentive programs in your state through the
Database of State Incentives for Renewable Energy (DSIRE). |
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This project included the following PATH-profiled technologies:
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Many local electric utilities also offer programs to promote GHPs. OG&E, for example, offers financing on energy-efficient heating and cooling equipment. The program includes quickly approved, low-interest loans that require no money down. DSIRE also provides information on utility programs.
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Content updated on 9/5/2006
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