Cost Of Geothermal System For Home Use The Real Geothermal Heat Pump Cost

Cost Of Geothermal System For Home Use – The Real Geothermal Heat Pump Cost

By: - Home Improvement - December 1, 2011
cost of geothermal system for home use the real geothermal heat pump cost

If you live in some areas of the US that have access to geothermal energy, you may consider getting a geothermal system in order to heat and cool your home. There are many benefits to this type of energy, but only certain areas have access to this type of renewable resource. In order to get access to geothermal energy in your home or office building, you will need to install a geothermal heat pump which takes the heat of the earth and converts it to energy to heat or cool your building. Before getting into the information about a geothermal system like geothermal heat pump cost, it is important to understand how a geothermal system works.

Geothermal heat pumps are similar to other types of heat pumps found, but the main difference is that they use the heat from the earth instead of heat from an outside source.  Several feet below the surface of the earth, the temperature is at a constant and stable state, no matter what the surface temperature is.  Depending on the latitude, the temperature at this place in the earth is about 50 to 70 degrees F. A great way to look at this is to think of a cave in a temperate region. In the summer, air temperatures may reach 85 or 90 degrees F, but the cave may be 60 degrees. That same cave, in February where the temperature may be 20 degrees will remain at that constant 60 degree temperature it was in the summer. You may wonder what this has to do with a geothermal heat pump and the answer to that is really, this information has everything to do with a geothermal heat pump!

A geothermal heat pump, or geothermal system works by pulling heat from one source, changing it to energy and putting that heat into another source. The contact temperature of the earth that was mentioned directly above is the actual heat that is pulled into a geothermal system. If you think back to physics class, you may remember that heat can actually be pulled from anything, even things that our bodies perceive as cold. Since the temperature is constant and stable, there is a never ending source of heat from the earth to heat and cool your home via a geothermal system.

Geothermal energy is a renewable energy source which means that it will not disappear unlike non renewable resources like coal or oil. Once these energy sources are gone, they will be gone forever. Americans have a huge dependency on energy and it would probably be pretty safe to say that bad things will happen if these energy sources run out and there is nothing to replace them with. Luckily there are some great developments and geothermal energy is one of them. Though it has been used in some areas for thousands of years, only recently has it been used as an energy source in the US.

Research shows that about 70% of energy used in a geothermal system is directly from the ground which makes this method one of the most efficient and quite HVAC systems available.  The cost of geothermal system units is expensive. You have to pay to install, but they can offer significantly lower energy bills, on average about 40% lower, in fact. Because these systems are relatively simple, there is very little maintenance which will save you money as well.

When determining cost of geothermal system units you need to consider several factors. One of these costs is drilling and installation. In fact, much of the geothermal heat pump cost is due to installation and drilling. Geothermal heat pump cost is usually somewhere between $11,000 and $30,000 and as you see, prices can vary significantly. Many people get sticker shock when they see this price, but at the same time, you have to remember there are significant savings on your electric bill each month. Let’s look at a real example:  A family who lives in Virginia was interviewed by a national news source. They had a bill of approximately $2000 during the first winter they lived in their home and were certain they did not want that to happen again. After deciding on geothermal energy, they ended up spending $20,000 for the pump as well as for installation. It would have actually been more, but they chose to rent a backhoe and dig themselves. They are extremely happy they did this and you may be shaking your head at this, but there is certainly more to the story. Their heating bills went from approximately $600 – $800 per month down to less than $100 a month. In just a few short years, the savings gained were enough to fully pay for the geothermal heat pump cost. On top of that, there are government incentives that give you significant tax breaks, currently up to about 30%.