1. Initial Costs vs. ROI
No two ways about it: replacing your current HVAC system with a geothermal heating and cooling system is a pricy proposition. Up-front costs here in Pine County can run anywhere from $10,000 to $30,000 – or more. Lot size, site accessibility, system configuration, ground conditions, and other matters have a say in it. So too does the amount of excavation that has to be done and what sort of ductwork modifications are necessary. And if you’re building a new home? It’s not as budget-busting, generally, but it’ll still cost around 40 percent more than a typical HVAC system will cost you.
Okay, we’ve dispensed with the bad news. Let’s concentrate now on the good news. First, a number of incentives and rebates may be available at the federal, state and local level to assist you with installation costs. Next, the energy savings achievable with your new geothermal heating and cooling system will help you begin to recoup your initial investment almost immediately. So you could recoup your investment in as little as four years. But understand: Local utility rates and the end cost of your installation may delay full repayment for something like 15 years. Given that geothermal systems tend to last for upwards of 30 or 50 years, though, you’ll still make out all right. You just have to calculate early on what your finances can weather … and how patient you are.
2. Geothermal Benefits Can Easily Offset Worries About Front-End Costs
Allow us to list the major benefits:
- Compared to standard heating and cooling systems, geothermal heating and cooling could clip as much as 30 to 60 percent off your heating bills. And it could lower your cooling costs by as much as 20 to 50 percent.
- Geothermal systems use renewable energy – heat transferred from the ground.
- Geothermal heat pumps don’t run by combustion, so there are no greenhouse gas emissions (carbon dioxide, carbon monoxide, etc.) and no fire safety or air quality concerns.
- Because no outdoor fans or compressors are necessary, geothermal heating and cooling systems are much quieter than typical, run-of-the-mill systems.
- The absence of many complex moving parts and the fact that geothermal systems are protected from the elements insure many decades of low-maintenance, top-performance use. Indoor components may hang in there for about 30 years, ground loops, about 50.
Need more information on any of these matters in order to make a decision about your heating and cooling options? Visit the Pine County geothermal specialists at Willow River Geothermal . We’re happy to help, regardless of what you decide.