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View Diary: Ready for This? Last Month 100% of New Electrical Capacity in the US came from Renewable Sources (187 comments)

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  •  Geothermal Pays Off (6+ / 0-)

    Geothermal will cut your heating/cooling bill 25-50%+. It will cost something like $20K or less after the 30% IRS credit (that expires in 2016), unless you've got unusually tough drilling conditions (and no ponds/streams or big lawns for cheaper troughs).

    When you get a geothermal quote, you should get an estimate of savings - that includes at least 3-5% utility energy rises you're lessening. Outfits that can't give one aren't as good at the job as those that can. The best ones also know about sources of financing, including local lenders.

    Geothermal isn't for absolutely every site, but it is good for most of them. Even if it takes 12 years to pay off the investment, that's an 8.5% return on investment. Any 8.5% ROI opportunity I find, I hope it costs even more to get into, so I can get that fat ROI on a bigger input. Plus the improvement to your property increases its resale value, usually without increasing property tax.

    "When the going gets weird, the weird turn pro." - HST

    by DocGonzo on Thu Feb 21, 2013 at 06:15:47 AM PST

    [ Parent ]

    •  This article on geothermal breakthrough (0+ / 0-)

      A Quiet Breakthrough in Geothermal Energy
      makes possibility of widespread future use much likelier, easier... and also shows the hardship of such ventures.
      Dept of energy has given 21.4 million grant to AltaRock Energy, Google and other companies have invested 26 million...

      I don't know enough about it to have opinion on how breakthrough this is but just the idea of progress pleased me
      It notes things like these

      Creating multiple geothermal zones from one well is important, because it means more geothermal power can be produced and the process becomes a lot cheaper in the long run. Enhanced geothermal systems in the past have created a single stimulated zone, but none—until now—has created multiple zones.
      and this
      AltaRock Energy (snip) has been working on enhanced (sometimes called engineered) geothermal tech. This technology drills wells deep into the ground, injects them with cold water to fracture the hot rocks, and creates a geothermal source of power where none was naturally occurring.

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