New Housing Project to Include 70 Geoexchange Systems

Essential Innovations Technology plans to provide geoexchange heating and cooling systems and ongoing geothermal services to 70 residential properties scheduled for a gated community.

The luxury style custom-built homes will be built in Okanagan Valley of British Columbia by Diamondview Developments. In the 25-year operating lease, Essential Innovations will install Geothermal Loop Fields (GLF) to each of the 70 planned residences to supply geothermal energy. Essential Innovations will also be in charge of installation and maintenance of the geoexchange equipment in each home. Geoexchange technology harnesses the earth’s clean, renewable thermal energy stored just below the surface or in large bodies of water for heating, cooling, domestic hot water and/or dehumidification. A geoexchange system is used to exchange the earth’s natural heating and cooling properties between a building and the ground. This non-combustion transfer of energy is the source of performance and environmental superiority, as geoexchange systems need only a small amount of electrical energy to then capture, move and concentrate a large amount of free energy provided by the earth. “The Diamondview Development…shows the desire of the development community and homeowners alike, to recognize geoexchange technology as a truly affordable and effective means of alleviating the economic and environmental pressures associated with the continued use of fossil fuel-based heating systems in the residential marketplace,” said Jason McDiarmid, Diamondview president and CEO. “Essential Innovations is finding a very high receptivity from key decision makers within major development companies as to the application of geothermal technology on project sites utilizing geothermal loop-lease models capable of creating long-term quantifiable cash flow cycles, that at the same time allow for the accumulation of carbon offset credits.”
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