GAOI member-utilities have programs to help homeowners, business operators, facility managers and others to install geothermal systems. Most utility leaders today recognize that geothermal systems are the most efficient heating and cooling technology available today – by far.
Utilities might offer special electric heating rates, or rebates to help with the initial installation costs. Every utility is different. One might ask why a utility would provide incentives for a technology that uses less energy. Here’s why.
The installation of a geothermal system is good for the property owner, who sees lower heating and cooling costs. It’s good for the environment since energy usage is decreased and there is no burning of fossil fuels on site to provide heating. And lastly, it’s good for the electric utility as well, because of lower electric demand during peak usage times, which are those times of the year when energy usage is at its high point, and these times help establish the year round cost of power. So by cutting the peaks (which geothermal does in a significant way) the utility and its customers save on a year-round basis.
Geothermal systems have high operating efficiencies of up to 500 percent. They do utilize electricity to move the earth’s free energy, but overall energy costs are typically cut by 50 percent or more.