Geothermal is a growing alternative energy source for heating and cooling. Depending on its application, the cost can be competitive with wind and solar. Tax credits may be available to help defray the cost.
2005 Data from the U.S. Department of Energy’s National Renewable Energy Laboratory on the cost per kilowatt-hour at active power generation projects:
· Geothermal, $0.031 to $0.08
· Wind, $0.043 to $0.055
· Biomass, $0.066 to $0.08
· Solar, $0.11 to $0.31
· Hydroelectric, $0.006
· Coal $0.021
· Nuclear, $0.022
These costs most certainly have changed over the last few years, but provide an indication of the cost effectiveness of installing geothermal in homes, businesses and schools.
To find a geothermal company in your area click on this Geothermal Directory.
Also, visit the Geothermal Alliance of Illinois for information and resources.