WASHINGTON (dpa-AFX) - Dandelion Energy, a provider of residential geothermal heating and cooling solutions, Wednesday announced that it has partnered with Lennar Corporation (LEN) to implement one of the largest residential geothermal heat pump projects in U.S. history.
Over the next two years, more than 1,500 new Lennar homes in Colorado will be equipped with Dandelion's geothermal systems, offering homeowners significant energy savings-estimated at $30 million over 20 years-compared to air-source heat pumps.
Dandelion Energy has streamlined geothermal installation, making it more accessible and cost-effective for builders and homeowners. By eliminating traditional outdoor AC units and heating systems, these geothermal heat pumps improve efficiency, durability, and sustainability. Homeowners in the participating communities will benefit from a low-maintenance, emissions-free heating and cooling solution.
Geothermal heat pumps significantly lower home energy use and reduce peak electric demand. The Department of Energy has reported that widespread adoption of this technology could eliminate the need for 24,500 miles of new transmission lines-equivalent to eight cross-country trips across the U.S.
The initiative will also leverage incentives, such as Colorado's state tax credit and Xcel Energy's programs for geothermal and all-electric new construction. These incentives lower the upfront costs for homebuilders, facilitating widespread adoption and benefits for residents.
LEN is currently trading at $114.23 or 0.24% lower on the NYSE.
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