FACT: Geothermal systems provide the most efficient, comfortable and environmentally friendly method of heating & cooling.
New Report Shows Including Electricity with Renewables Can Hedge Against Natural Gas Overreliance
April 22, 2015 – A new report by the Union of Concerned Scientists (UCS) illustrates that using a geothermal heat pump system to heat and cool your home is a great way to hedge against volatile fossil fuel prices in the future.
Titled The Natural Gas Gamble, the report by the UCS illustrates that the power sector could be steering into the United States into an energy bill danger zone by promoting natural gas instead of energy efficiency options and renewables. Homes and business would be very vulnerable as utilities depend more on natural gas to generate electricity.
“There’s a well-documented history of volatility in natural gas prices,” said Jeff Deyette, senior energy analyst at UCS and report co-author. “Increasing demand, extreme weather events, and uncertainties about available gas supplies can cause prices to spike dramatically. For example, last winter when the Polar Vortex brought bitter cold to much of the U.S., prices in some regions jumped 10- to 12-times higher than recent lows. Despite the recent surge in natural gas production, these trends could continue and leave consumers that rely on natural gas paying the price.”
As the demand for natural gas by utilities to generate electricity grows, that means the price grows also.
And for those many home owners across the country who depend on natural gas to heat their home in the winter (possibly you), your bills could be higher than you realized.
At the same time, geothermal heat pumps are still a great way to dodge the fossil fuel fluctuations of price. Even when natural gas is inexpensive, geothermal still offers better savings potential.
As you can see, geothermal heat pumps can offer clear savings compared to all conventional heating and cooling options. Even compared to heating and cooling with electricity via a traditional heat pump (the two left bars next to geothermal), geothermal is still superior.
Factor in the 30 geothermal tax credit, and your return on invetstment in a geothermal system is even quicker.