Its GeoTPA is the same idea as the Power Purchase Agreements (PPAs) that turned solar power into a commodity in the nine or so states that have allowed solar companies to compete with electric utilities, by selling you just the power (off your roof) hour by hour.

LVestus Energy is pioneering the same idea to finance geothermal energy for commercial and industrial buildings, and have a patent pending on their trademarked GeoTPA. To finance the first purchases, Brighter Energy is reporting, a Sundance Capital Group, LLC has lent Lvestas $750 million in initial project funding.

As with a solar PPA, the consumer does not pay any money for the system, since they will be buying just the power, the same way that the consumer pays only for the power supplied by their current utility.

Big companies like Walmart typically have not purchased their own (sometimes quite huge!) solar systems, but have signed a power purchase agreement instead with a solar financing company, because it is a completely risk-free way to shed all those unwanted carbon tons.

Similarly, municipalities, universities, schools, hospitals, building owners, property managers and developers can utilize the same zero upfront capital outlay program to install the exterior loop field portion of a geothermal heating and cooling system. Since Lvestas Energy only installs the deep 500 feet vertical units, the system is not for homes, but for larger users, where the savings can be greater.

As with a solar PPA, the energy delivery prices are fixed in today’s dollars, which provides a hedge against future fossil fuel price inflation. Solar power rates as low as 12 cents a kilowatt hour result when electricity consumers are permitted to sign power purchase agreements (PPAs) with solar companies like SunRun (for homeowners) and Tioga (for commercial users). (Solar Power Rocks listed these PPAs in 2009)

This geothermal PPA should be even more successful than solar PPAs have been, given the lower costs, and faster paybacks frequently associated with geothermal. For many regions of the US subject to extremes of hot summers and cold winters, LVestas Energy’s GeoTPA would be an even better bet than a solar PPA.

As with a solar PPA, buying geothermal heating and cooling through a TPA provides a way to lock in heating and cooling costs for 15-25 years while benefiting from the immediate savings by reducing use of fossil fuels at today’s prices.

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The short of it is, you get 50% OFF geothermal systems from TERRASource!  Let us quantify that for you: spend $20,000 on a TERRASource geothermal system, receive a Missouri Rebate check for $10,000.

For full program details visit: Energize Missouri Homes Geothermal Program

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The new website expands TERRASource’s ability to offer local and national sales and support services to its fast growing base of customers and prospects interested in emerging geothermal technologies.

After solidifying its leadership in the US market for several years now, Nick Ruebel, president of TERRASource Geothermal Systems had this to say: “We have seen significant growth in demand for our TERRASource geothermal heat pump systems, not only from home owners, but residential and commercial builders, from which they clearly understand it’s future benefits, both economically and environmentally. Our geothermal recipients not only feel great about going green, but they are beside themselves with the considerable savings they materialize over traditional heating & cooling systems. Let me be clear — I’m not referring to just homeowners — home builders and commercial contractors are realizing even greater savings.”

TERRASource offers a one-of-a-kind geothermal solution that is leaving competitors grasping for market share and having to “re-think” the way they operate. TERRASource puts out a “pre-engineered geothermal system” that slashes costs for consumers. While other competitors are piecing together their customer’s geothermal system on-site, TERRASource geothermal systems comes ready to install. Good old plug-and-play that negates having expensive specialized technicians and expensive equipment on-site, which is ultimately passed on to the consumer.

According to the EPA, TERRASource geothermal systems can save 40 percent to 70 percent in home-heating and 30 percent to 50 percent in home-cooling costs over conventional systems. Given the current economic conditions and rising costs on gas, electric, and propane, employing geothermal energy is not just the right environmental choice, but by far the most economically-sound.

About TERRASource Geothermal Systems:

TERRASource taps into stable underground thermal temperatures to boost efficiency and reduce operational costs over conventional heat/cool systems. TERRASource can be found on the web at http://www.GeothermalHeaters.com.

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IKEA is often the target of criticism, from its murky corporate structure—is it a non-profit or holding company, or both?—to missing bolts and screws that are only discovered upon arriving home . . . to the questionable sourcing behind those snappy shelves and kitchen fixtures.  But the happy yellow and blue big box has made improvements:  IKEA is phasing out flame retardants in its furniture, has invested in solar start-ups, and will source more organic cotton for its textiles.  Some scoff at the efforts, but like other large retailers, IKEA realizes that the company must adapt to changing consumer preferences.  And the Centennial store is one more step.

IKEA worked with the National Renewable Energy Laboratory (NREL) to construct this geothermal system under the store’s parking garage.  As deep as 500 feet beneath the garage, 130 pipes, each five and a half inches in diameter, will shoot liquid, which will bring up cold or warm air upon its return to the surface.  The challenge of such as system is to send the liquid down to where the temperature is cooler than the earth’s surface–and then haul the air up it to keep temperatures cooler in the summer and warmer in the winter. When warm air at the surface is passed over the cool pipes, the air gets cooler. When the air is cooler than the liquid, it is warmed as it passes over the pipes.  Meanwhile, the geothermal technology helps to maintain a building’s relative humidity at 50%–a big plus in regions with high humidity.

The store will not run entire on the geothermal system, particularly on those hot summer days that will send locals to the Rockies for a refreshing hike.  But the store should maintain a comfortable temperature most of the time.  NREL and IKEA are looking to the Centennial store as a test laboratory:  if the projects succeeds and reduces energy costs, such an operation could be installed at different stores in North America.

Geothermal energy projects are catching on, and increased 46% in 2009 from the previous year.  The technology much potential in the American West:  about 3100 megawatts of capacity were built, with another 6400 megawatts slated for construction in the coming months.  The upfront costs are high—IKEA will not divulge its investment—but expect more announcements similar to this one in the coming decade.

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The heating efficiency of ground-source and water-source heat pumps is indicated by their coefficient of performance (COP), which is the ratio of heat provided in Btu per Btu of energy input. Their cooling efficiency is indicated by the Energy Efficiency Ratio (EER), which is the ratio of the heat removed (in Btu per hour) to the electricity required (in watts) to run the unit. Look for the ENERGY STAR® label, which indicates a heating COP of 2.8 or greater and an EER of 13 or greater.

Manufacturers of high-efficiency geothermal heat pumps voluntarily use the EPA ENERGY STAR label on qualifying equipment and related product literature. If you are purchasing a geothermal heat pump and uncertain whether it meets ENERGY STAR qualifications, ask for an efficiency rating of at least 2.8 COP or 13 EER.

Many geothermal heat pump systems carry the U.S. Department of Energy (DOE) and EPA ENERGY STAR label. Ask your contractor about special financing or incentives for purchasing energy efficient products, including ENERGY STAR qualified products.

Economics of Geothermal Heat Pumps

Geothermal heat pumps save money in operating and maintenance costs. While the initial purchase price of a residential GHP system is often higher than that of a comparable gas-fired furnace and central air-conditioning system, it is more efficient, thereby saving money every month. For further savings, GHPs equipped with a device called a “desuperheater” can heat the household water. In the summer cooling period, the heat that is taken from the house is used to heat the water for free. In the winter, water heating costs are reduced by about half.

On average, a geothermal heat pump system costs about $2,500 per ton of capacity, or roughly $7,500 for a 3-ton unit (a typical residential size).  A system using horizontal ground loops will generally cost less than a system with vertical loops. In comparison, other systems would cost about $4,000 with air conditioning.

Although initially more expensive to install than conventional systems, properly sized and installed GHPs deliver more energy per unit consumed than conventional systems.

And since geothermal heat pumps are generally more efficient, they are less expensive to operate and maintain — typical annual energy savings range from 30% to 60%. Depending on factors such as climate, soil conditions, the system features you choose, and available financing and incentives, you may even recoup your initial investment in two to ten years through lower utility bills.

But when included in a mortgage, your GHP will have a positive cash flow from the beginning. For example, say that the extra $3,500 will add $30 per month to each mortgage payment. The energy cost savings will easily exceed that added mortgage amount over the course of each year.

On a retrofit, the GHP’s high efficiency typically means much lower utility bills, allowing the investment to be recouped in two to ten years. It may also be possible to include the purchase of a GHP system in an “energy-efficient mortgage” that would cover this and other energy-saving improvements to the home. Banks and mortgage companies can provide more information on these loans.

There may be a number of special financing options and incentives available to help offset the cost of adding a geothermal heat pump (GHP) to your home. These provisions are available from federal, state, and local governments; power providers; and banks or mortgage companies that offer energy-efficient mortgage loans for energy-saving home improvements. Be sure the system you’re interested in qualifies for available incentives before you make your final purchase.

To find out more about financing and incentives that are available to you, visit the Database of State Incentives for Renewable Energy (DSIRE) Web site. The site is frequently updated with the latest incentives. You should also check with your electric utility and ask if they offer any rebates, financing, or special electric rate programs.

Evaluating Your Site for a Geothermal Heat Pump

Because shallow ground temperatures are relatively constant throughout the United States, geothermal heat pump systems (GHPs) can be effectively used almost anywhere. However, the specific geological, hydrological, and spatial characteristics of your land will help your local system supplier/installer determine the best type of ground loop for your site:

Geology

Factors such as the composition and properties of your soil and rock (which can affect heat transfer rates) require consideration when designing a ground loop. For example, soil with good heat transfer properties requires less piping to gather a certain amount of heat than soil with poor heat transfer properties. The amount of soil available contributes to system design as well — system suppliers in areas with extensive hard rock or soil too shallow to trench may install vertical ground loops instead of horizontal loops.

Hydrology

Ground or surface water availability also plays a part in deciding what type of ground loop to use. Depending on factors such as depth, volume, and water quality, bodies of surface water can be used as a source of water for an open-loop system, or as a repository for coils of piping in a closed-loop system. Ground water can also be used as a source for open-loop systems, provided the water quality is suitable and all ground water discharge regulations are met.

Before you purchase an open-loop system, you will want to be sure your system supplier/installer has fully investigated your site’s hydrology, so you can avoid potential problems such as aquifer depletion and groundwater contamination. Antifreeze fluids circulated through closed-loop systems generally pose little to no environmental hazard.

Land Availability

The amount and layout of your land, your landscaping, and the location of underground utilities or sprinkler systems also contribute to your system design. Horizontal ground loops (generally the most economical) are typically used for newly constructed buildings with sufficient land. Vertical installations or more compact horizontal “Slinky” installations are often used for existing buildings because they minimize the disturbance to the landscape.

Installing Geothermal Heat Pumps

The ground heat exchanger in a GHP system is made up of a closed or open loop pipe system. Most common is the closed loop, in which high density polyethylene pipe is buried horizontally at 4-6 feet deep or vertically at 100 to 400 feet deep. These pipes are filled with an environmentally friendly antifreeze/water solution that acts as a heat exchanger. In the winter, the fluid in the pipes extracts heat from the earth and carries it into the building. In the summer, the system reverses and takes heat from the building and deposits it to the cooler ground.

The air delivery ductwork distributes the heated or cooled air through the house’s duct work, just like conventional systems. The box that contains the indoor coil and fan is sometimes called the air handler because it moves house air through the heat pump for heating or cooling. The air handler contains a large blower and a filter just like conventional air conditioners.

Most geothermal heat pumps are automatically covered under your homeowner’s insurance policy. Contact your insurance provider to find out what its policy is. Even if your provider will cover your system, it is best to inform them in writing that you own a new system.

Source: EnergySavers.gov

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