Gulf Power in Pensacola Florida was presented an engineering award for the hybrid geothermal heat pump system at the Marriott Springhill Suites hotel on Pensacola Beach, Florida.  The closed-loop system provides heating and cooling for the hotel, along with hotel hot water, outdoor pool heating and ice machine operation.  Click here for all the details.

The Oak Ridge National Laboratory has just published a comprehensive new report on geothermal heat pumps.  To read the full report go to  ornl232.geoexchange.org or http://www.zebralliance.com/docs/geothermal_report_12-08.pdf

Read more: New DOE Report on Geothermal Heat Pumps

GeoExchange, geothermal, ground source, water source, earth source, earth energy, and on and on.

What do they all mean ?

All of these terms are related, and some of them are interchangeable. GeoExchange and its associated logo (shown above) are registered trademarks of the Geothermal Heat Pump Consortium, Inc., and are intended to differentiate products or services that rely on the unique features of geothermal heat pump systems. The term itself is made up of two parts: "Geo" refers to the earth itself, and "Exchange" indicates the process used by geothermal heat pumps to move heat to or from the earth to heat and cool homes, businesses or government facilities.

Read more: What's In A Name ??

30% tax credit for homeowners who install geothermal heat pump systems in 2009 and later years.  For systems placed in service in 2008, the $2,000 lilmit still applies  So, for example, if a homeowner pays $15,000 for a geothermal heat pump system installed in 2009, a tax credit of $4,500 could apply.

For systems placed in service in 2008, use IRS 2008 Form 5695 for the Residential Energy Efficient Property Credit to claim the $2,000 tax credit for Energy Star geothermal heat pumps.  You can view and download the form at the following link: http://www.irs.gov/pub/irs-pdf/f5695.pdf    Line 18 on the form is where you enter "Qualified geothermal heat pump property costs", Line 19 is where you multiply costs by 30%, and Line 20 displays the $2,000 "Maximum credit amount" for 2008.

If you use TurboTax, look for the "Home Energy Credits" topic under Personal Deductions and Credits for Your Home.  TurboTax provides an input box to enter the amount you paid for Geothermal heat pump property in 2008.  As usual, contact your tax professional for applicability to your specific situation.

Read more: Stimulus Bill Increases Homeowner Tax Credit