Geothermal provides cool breeze of opportunity - KWWL - Eastern Iowa Breaking News, Weather, Closings

Geothermal provides cool breeze of opportunity


DUBUQUE (KWWL) -- This next story has a "down to earth" meets "money matters" theme. New energy tax credits are changing "eco-friendly" to stand for "economy friendly".

It's humid days like Thursday make us all think about air conditioning. Local businesses say they've seen a pick up business the last few weeks, but this year its about going green. Which could save green in the long run.

Just like you can't it's a humid day until you go outside, you can't tell how bill white cools his house until you go inside. Three weeks ago white had a geothermal system installed in his house, after living here for ten years.

"I think the best investment is probably to get into geothermal and get a 40% return. 30% from federal stimulus and 10% through alliant so i figure it's about a good of an investment as i could make right now," said White.

He's talking about a 30% tax credit offered by the government. That money would assist in the cost of installing a geo-system. Something the costs anywhere from $12,000 to $40,000.

"A geothermal heating and cooling system uses mother earth to basically do your heating and cooling for you," said Mack Patterson, CEO of Patterson Heating and Cooling in Dubuque.

Crews install loops in the ground and run the into the side of a house. White isn't alone. Patterson says this green solution is growing. Many people are looking for way to cut costs in the long run.

"There's a 30%, not that's a big number, so 30% tax credit available for geo-systems under construction or retro fit and that's nice to have," said Patterson.

Nice to have on hot humid days like today. White says the tax credit was a major incentive to installing a geo-system. He also says it may be a good selling point on his house - should he decide to move.

And to encourage people many companies offer a free estimate on new and existing homes to help give you an idea how much green you could spend in order to save.

Online Reporter: Lauren Squires
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