SOURCE: WaterFurnace International, Inc.

WaterFurnace International, Inc.

January 13, 2011 10:00 ET

New Rebates Available to Homeowners Who Upgrade Geothermal Heating and Cooling Systems

Manufacturer Provides up to $2,000 to Upgrade, in Addition to Federal Tax Credits

FORT WAYNE, IN--(Marketwire - January 13, 2011) - Homeowners who currently use a geothermal heat pump to heat and cool their home are now eligible for a rebate up to $2,000 when they choose to replace their existing equipment with a new unit from WaterFurnace International, Inc. (TSX: WFI), a leading manufacturer of residential, commercial, industrial and institutional geothermal heat pumps. The rebate is valid on select systems purchased between January 3 and March 31, 2011.

The Geothermal Upgrade Event from WaterFurnace offers:

  • $2,000 to homeowners who upgrade WaterFurnace equipment that is between 1 and 10 years old.
  • $1,000 to homeowners who upgrade WaterFurnace equipment that is more than 10 years old.
  • $1,000 to homeowners who upgrade a brand of geothermal equipment other than WaterFurnace.

These rebates are in addition to the federal tax credits available for the installation of geothermal systems. "Under the provisions of the American Recovery and Reinvestment Act (ARRA) of 2009, homeowners who install a geothermal system before Dec. 31, 2016, can take advantage of a tax credit equal to 30 percent of the installation costs," said WaterFurnace Director of Marketing Tim Litton. "The tax credit, coupled with this new rebate program, makes now the perfect time to upgrade to a new geothermal heating and cooling system from WaterFurnace."

A geothermal heat pump taps into the abundant free solar heat energy stored in the earth through a series of underground pipes (an earth loop) to heat your home during the winter and cool it during the summer. The energy source is free and renewable, and in many cases the monthly savings an energy-efficient geothermal system offers will surpass any payments associated with the installation of the new system. The U.S. Department of Energy (DOE) considers them to be one of the most efficient heating and cooling systems available.
Additionally, the average system lifespan exceeds 24 years -- compared to 15 years for an ordinary system.

Eligible WaterFurnace products under the Geothermal Upgrade Event include Envision, Synergy3D or Envision Series Split (and Air Handler). WaterFurnace Envision products set the industry standard for efficiency, reliability and quiet operation, using an ozone-safe refrigerant to meet the most stringent requirements of the EPA. The Synergy3D is the geothermal equivalent of a boiler, furnace and air conditioner -- all in a single, environmentally friendly and quiet unit.

To learn more about the Geothermal Upgrade Event or find a WaterFurnace dealer near you, visit www.waterfurnace.com/event.

WaterFurnace International, Inc.
WaterFurnace International, Inc. is a leading manufacturer of residential, commercial, industrial and institutional geothermal and water source heat pumps. Products from WaterFurnace include energy-efficient and environmentally friendly geothermal comfort systems, indoor air quality products and pool heaters. WaterFurnace (TSX: WFI) was founded in 1983, the company is headquartered in Fort Wayne, Ind. For the latest news and updates from WaterFurnace, connect with us on your favorite social media sites -- follow us on Twitter (@WaterFurnace), like us on Facebook, or view the WaterFurnace YouTube Channel.

For additional information, please visit www.waterfurnace.com.

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