The oil, gas or electric bill comes every month, and for the average homeowner energy costs are a budgetary concern and little else.

Unless one is building a new home, the subject of “doing it differently” seldom arises, and when it does, the obvious choices are the traditional ones. And yet there are other options, such as renewable energy, which might be worth considering.

Using renewable energy is not just environmentally sound, it actually saves money in the long run, said Midnight Energy president and co-owner Tom Myette, who will speak about green energy for the Boothbay Region Land Trust at the Boothbay Region YMCA Knickerbocker Lodge Tuesday, July 31, from 5:30 to 6:30 p.m.

“Green energy is energy sustainable within its local environment,” Myette said in a recent interview. “To use solar energy as an example, sunlight can be stored or re-used. In a geo-exchange system, sunlight is stored in the ground.”

In May 2012, Midnight Oil in Newcastle changed its name to Midnight Energy to reflect its changing focus from traditional fuel sources to offering a variety of energy solutions, among them geothermal energy, which the facility has used to heat and cool its own buildings since 2008.

GeoExchange technology uses the earth's renewable energy, just below the surface, to heat or cool a home or other building, and to help provide domestic hot water. It's sometimes referred to as a geothermal heat pump, a ground source heat pump, or earth energy, according to the website geoechange.com.

Myette, a Colby College graduate, came to what was then Midnight Oil four years ago with 30 years of experience in investment management in Boston. He is passionate about the potential of alternative fuel sources to save money in the long run. “It’s the great lie to say that we do this to feel good; the fundamental reason is to save money,” he said.

Homeowners who convert to geothermal energy will reap the cost benefits in four to five years, Myette said, with new homes designed to accommodate the system seeing a profit within three years. In addition, those with geo-exchange systems will be spared the price fluctuations that victimize users of traditional sources, such as oil and gas. He predicts a time in Maine when “there will be no need for traditional fuels to be the foundation of the state’s economy, but it is up to the consumer to make that happen.”

“Energy is 10 percent or more of anyone’s budget, and how to spend that money is a complex decision,” Myette said. “Whenever possible, homeowners and businesses should draw from available local resources without harm before using sources from away or sources that cause harm. But the fundamental reason is to save money. We did it here at Midnight Energy. We have used no fuel in-house since converting to geothermal energy; there was an upfront cost, but over the past four years we have saved money.”

Myette said he welcomes questions from skeptics. “It’s a paradigm shift,” he said. “Geo-exchange technology is now in its third generation. It has moved from backyard engineering to science and innovation.”

To sign up for this event, or for more information, contact the Boothbay Region Land Trust office at 633-4818 or brlt@bbrlt.org. Midnight Energy is an annual sponsor of Boothbay Region Land Trust.