Geothermal heat pumps use the earth’s natural heat as a source of heat in the winter and as a way to dispense heat from the indoors during the summer months. The moderate temperatures within the earth’s soil makes for an efficient and cost effective source of residential comfort systems. Over time, homeowners can achieve a significant energy savings from geothermal installation.
Cost of Geothermal Heat Pumps
The cost of geothermal heat pumps depends on the tonnage of the unit. The unit itself is a little more costly than a comparably sized traditional heat pump. The greatest cost of installing a geothermal air conditioning and heating system is for labor. Deep trenches must be dug on the property in order to accommodate the heat exchange system. Either holes for a vertical piping installation or trenches for a horizontal layout must be prepared. This process can take several days depending on soil conditions and the size or depth of the required holes. In all, the U.S. Department of Energy estimates that the cost of installing a geothermal heating and cooling system requires an initial investment of a few times more than a traditional heat pump’s cost.
Incentives for the Installation of Geothermal Heat Pumps
Many homeowners are surprised to learn about various incentive programs for the installation of geothermal heat pumps. These incentives are offered by manufacturers, utility companies and government entities to help reduce the overall cost of installing these energy saving systems. You might find incentives including:
- State and federal tax credits
- Utility company credits or buyback programs
- Manufacturer rebates
Benefits of Geothermal Heating and Air Conditioning
There are many benefits to installing a geothermal heating and air conditioning system on your property. These include:
- Lower utility bills. You could realize up to a 30 percent savings every month on the cost of heating and cooling your home. The estimated payback period is five to ten years for a geothermal system.
- Smaller environmental impact. Less fossil fuels will need to be used to provide indoor comfort for your home.
- Greater resale value. Prospective home buyers may be intrigued by the energy savings and eco-consciousness of geothermal heating and cooling, making your home more attractive than others on the market.
Geothermal heating and cooling systems are the wave of the future. By using renewable energy resources readily at our disposal, precious non-renewable energy sources can be saved and the environment will be healthier for everyone. For more information about geothermal air conditioning and heating systems, give our technicians at Accurate Comfort Services, Inc. a call any time.