Congress may be looking to de-fund public television and National Public Radio, but these are two media outlets that have always provided interesting insight into the world of green energy. Recently, this “All Things Considered” program ran a story on the benefits of closed loop geothermal systems called “Tapping the Earth For Energy Savings”. Read the story or give it a listen here and become a convert.
Of course, there are also those who are less concerned about the environmental benefits of geothermal and much more concerned about the cost and potential tax advantages. In this PBS parody of the “Iron Chef” called “Iron Accountant”, a team of tax experts competes to see who can get their client the highest deduction. And the winner is…IRS Form 5695 for Energy Efficiency Tax Credits of 30% for the installation of a geothermal heat pump system. So, if your subchapter S corporation had a good year, the best thing you can do to keep your money is to install a geothermal heat pump or solar photovoltaics.