Can you apply Grant for the ground source heat pumps?
Ground source heat pumps are highly effective and reliable heating and cooling systems available for many homes.
Unfortunately, only a few are aware of the efficacies and the reliability of these pumps in the United States and many European countries.
In order to popularize the use of these pumps and the geothermal energy in general, the federal government initiated a number of activities and laws including the issuance of ground source heat pumps grants with the intent of popularizing the use of geothermal heat pump and at the same time popularize the use of geothermal energy as effective solutions to the traditional energy sources.
The grants for ground source heat pumps are in effect in order to motivate household owners that are still dependent on the usual and the traditional HVAC systems that are too expensive and dependent on traditional energy sources. The issuance of these grants is backed by the American Recovery and Reinvestment Act of 2009 that was passed and approved February 2009. This is the federal government’s renewable energy grant program that is currently administered by the US Department of Treasury.
In order for a household or an organization to apply for the grants, interested applicants must be aware of the online applications. And all the requirements and the forms needed are listed on the website of the US Department of Treasury.
The site also provides answers to many FAQs, and the site can serve as the guide for someone or an entity wanting to take advantage of the grants.
In line with this, it is important as well to note that aside from the grants the federal government also offers geothermal tax incentives for heat pumps.
The current ruling is that the eligible applicants can have 30 percent of the cost of labor and the installation of the heat pumps without upper limits. This ground source heat pump credit is substantial enough and more than enough motivation for consumers to try out this option. Together with the ground source heat pumps grants, the popularity of the geothermal energy source and the geothermal pumps are getting the attention nowadays.
Examples of requirements needed by the grant-giving body
Not all entities wanting to take advantage of the grants will get it.
There are some rules and regulations in play that monitor and moderate the applications for the grants. For example, the grants are only given to the eligible properties that were placed in service in 2009 until 2011. The set guidelines also call for the inclusion of the safe harbor provision, and this provision sets the date of the start of the construction up until that point where the entity has already paid at least 5 percent of the total cost of the project. This program covers almost all clean and alternative energy projects. But for the geothermal heat pumps, the grant that can be expected is equal to 10 percent of the basis of the property for the pumps. Also, this is only open to tax-paying entities and will exclude the federal, state, and local government bodies