Cost and savings in operation cost varies widely based on
- Geographical location
- Size of building to be heated and cooled
- Conditions of the building such as layout, windows, insulation
- available geothermal heat exchange and the selection of a vertical, horizontal or lake loop
- Settings for personal comfort like indoor temperature in summer and winter
- current and future energy cost and more
On the WaterFurnace website one can read: “Energy and cost savings of geothermal heat pumps will vary by region and type of conventional system they’re compared with. But the energy cost of geothermal versus conventional HVAC systems will always be lower — and the geothermal system will always be greener.”
Savings Calculator:
WaterFurnace has released a cost calculator which requires a minimum of entries as real estate data is taken from Zillow.
We have reviewed results against real savings of our past customers and found it astonishingly accurate.
Click here for the Savings Calculator, it will be presented in a separate window (Pop-up window).
Please note:
- The default setings can be adjusted to your conditions by clicking the link right below the annual savings amount.
- For immediate details click the link next to the ‘Send my free report’ button”.
Example Cost / Savings Estimate:
For the purpose of this introduction we picked a typical example:
- Location: Greenville SC Area
- House: 2100 sqft, ranch style, contractor build 1993/94
- HVAC: Split HVAC system, gas/electric, in service 1994
- Requires replacement:
3.5 ton Geothermal System
or 3.5 ton Conventional HVAC System
1. Cost / Investment:
- 3.5 ton conventional Heating and Air Conditioning: System: around $10,000
- 3.5 ton Geothermal System with horizontal loop field: around $17,000 – 30% Tax Credit -> $12,000
- 3.5 ton Geothermal System with vertical drilled loop field: about $21,300 – 30% Tax Credit -> $15,000
2. Savings / Amorization:
- Geo System with horizontal field versus Conventional HVAC System: annual savings ~ $500, amortization in ~ 4 years
- Geo System with vertical loop versus Conventional HVAC System: annual savings ~ $500. amortization in ~10 years
- Sample amortizations above include 30% federal tax credit. Add the state tax credit, the amortization will be even shorter. Without tax credit the amortization takes much longer. Check our Financing page for current tax credits.
3. Please note: All projects are different and require individual planning. Above numbers were estimated for the specific example!
4. Summary:
- Geothermal systems require higher initial investment
- Geothermal system save in operational cost and pay for themselves in 5 to >10 years
- Available Tax Credits shortens the amortization period dramatically!
Talk to us about a geothermal heating and air conditioning for an unbiased project evaluation.
