Keller WIlliams Luxury Logo
Home » Geothermal Is HOT

Geothermal Is HOT

by | Feb 25, 2014 | Blog, Buying, New Construction | 0 comments

In the last several years, you have been hearing a lot about the “Green Movement.” That means finding ways to be more energy efficient while having a minimal negative impact on the environment. Former Colorado Governor Bill Ritter made green energy a priority in his four years on the job, as is Obama’s administration. On the Real Estate front, builders have gotten into the game by constructing homes with green materials like recycled carpet, tiles, 50-year composite roofs, LED lighting, and more efficient heating and cooling systems.

One of the systems that should be getting more publicity that really saves money and saves the environment is geothermal energy. Up to this point, we haven’t heard a lot about it and I think it is for two reasons. Not a lot of people know exactly how it works to heat a home, and many builders as well as consumers were frightened off by the potential cost. The reality is that the technology has come along so fast that geothermal is a real option for home owners right now and its cost is more affordable than ever before.

First, here’s how it works and I’ll keep this to simple layman’s terms. Depending on where you live and the home you are building, a contractor will need to determine how far to drill into the earth’s crust in order to tap into the right amount of heat. Just below the surface, the earth maintains a constant temperature of about 50 degrees, but drill down several hundred or a few thousand feet and things really start to heat up. It’s at that point where you can utilize the earth’s steam and water. A homeowner would then install what they call a heat pump. That pump would circulate air or water through the pipes down through the earth. It then would be heated by the earth’s steam or water and sent back to the surface at the heat pump. That hot air or water then would be used to heat the house in a variety of ways.

According to the California Energy Commission, the cost to install a geothermal system including the drilling is about $17,000. That would get offset by the savings and the tax breaks from the government. Energy experts estimate that the geothermal systems can save up to 70% off the cost of traditional heating methods. Plus the government is offering a tax credit of up to 30% of the cost of the system for those units installed before 2016.

In the final analysis, this seems like a win-win for everyone. The government helps with the costs, you save each month, the environment is protected, and you have an endless supply of energy to efficiently heat your home.

Dan Polimino is a Owner/Broker with The Hawaii Team, Keller Williams Realty Maui. Contact Dan at 808-913-0899.

 

Recent Posts

Featured Restaurant & Activity for November

Featured Restaurant & Activity for November

Featured Activity - Walking tour of Kailua-KonaKailua Pier, every Wednesday at 9:30am History buffs will want to take this walking tour of Kailua-Kona and learn about the many historical places in this seaside village. The tours are led by Pelena Keeling, a lifelong...

read more
“What Am I Paying For?”

“What Am I Paying For?”

These days, with all the discussions about commissions in the news, the new real estate rules, etc. every consumer is asking themselves the same question, which is, “what am I paying for?” I think it’s an excellent question and a question every real estate agent...

read more
September Market Sales Statistics

September Market Sales Statistics

Real Estate sales in the Resorts continued to be sluggish in September, the one bright spot being six condominium sales at Mauna Lani Resort. Otherwise, there were just two home sales – one each in Kohanaiki and Kūki`o. Other sales - condominiums - were limited to...

read more
August Sales Statistics for the Big Island Resort Areas

August Sales Statistics for the Big Island Resort Areas

Resort real estate sales were slow in the month of August, perhaps partly a reflection of the flat visitor numbers during what is normally a fairly active month for vacationers. There were just four condo sales and four home sales to end the summer. Home sales were...

read more
I Thought Service in This Country Was Dead, Until…

I Thought Service in This Country Was Dead, Until…

By Dan Polimino OK, I’m guilty. Maybe I threw in the towel too fast. I can’t tell you how many times I’ve uttered the phrase, “can you get me your supervisor,” because I was getting nowhere with Customer Service. I really thought customer service is completely dead in...

read more

Recent Listings

Call Now