via Business Wire
ClimateMaster, Inc., a leading manufacturer of water-source and geothermal heating and cooling systems, today endorsed the GEOSmart Loan program offered through a partnership between GE Money & the Electric & Gas Industries Association (EGIA) at the Energy Efficiency Global Forum in Washington, D.C.
The GEOSmart Loan program, sponsored by EGIA and funded by GE Money’s Sales Finance unit, provides both installment and revolving financing options and is available through EGIA-approved contractors to assist consumers looking to purchase a ClimateMaster geothermal heating, cooling and water heating system for their home. “The level of long-term financing provided through the GEOSmart Loan program is something that has long been needed in the geothermal heat pump (GHP) market,” said Daniel Ellis, president of ClimateMaster. “GEOSmart financing makes these systems more affordable for consumers retrofitting existing homes.”
“GHP technology harnesses energy stored near the surface of the earth to provide heating and cooling,” says John Bailey, senior vice president of sales for ClimateMaster. “This stable underground temperature reservoir is maintained by solar energy and is a clean and renewable resource available in all 50 states. GHPs tap into this reserve to reach 400 to 600 percent energy efficiency, in terms of energy delivered versus energy drawn from the grid to operate the system.” According to the Environmental Protection Agency, geothermal heat pumps are the most energy-efficient, environmentally clean and cost-effective space-conditioning system for most locations in the U.S.
“With buildings accounting for nearly 40 percent of all U.S. energy consumption and heating, cooling and water heating being the largest contributors, GHPs are one of the best ways to reduce your energy bills and your footprint on the environment,” said Ellis. “And they are a proven technology, with hundreds of thousands installed nationwide since their introduction in the late 1970s.”
“ClimateMaster’s line of geothermal heating and cooling systems are an excellent choice for providing and utilizing sustainable, affordable energy,” said Bruce Matulich, executive director of EGIA, a non-profit organization dedicated to advancing energy efficiency and renewable energy solutions. “We are pleased to be able to promote both ClimateMaster’s products and the GEOSmart program to distributors, contractors and our utility partners across the U.S.”
Due to significant consumer energy savings, the positive impact on utility peak load conditions and the substantial environmental benefits, a growing number of utility companies are supportive of GHP technology and are offering rebates and other financial incentives to encourage consumer installation of GHP systems. The GEOSmart loan program is already being integrated into leading utility and state sponsored energy efficiency programs, providing homeowners with a comprehensive financing solution that makes it easy for consumers to invest in energy efficient home improvements.
“At GE, we’ve made a commitment to continue investing in and providing products and services that are eco-friendly,” said Bruce Christensen, vice president and general manager, Home Improvement industry, GE Money – Sales Finance. “We’re proud to partner with EGIA and are excited that ClimateMaster has chosen to endorse the GEOSmart program.”
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