Geothermal Heat Pumps Vs. Conventional HVAC

Studies have shown that even if you have to take out a loan to completely replace your existing system with a geothermal heat pump, the advantages of the new system will mean you will still have extra money in your pocket each month, in addition to adding value to your home. The payback of  geothermal heat pump cost is around ten years. Popular Mechanics reported that the average cost of a ground source heat pump, after federal rebates, is around $19,000.  The annual operating cost of the geothermal heat pump would be about $1,800 less than a conventional system, leaving $132 to pay the loan and $24 in your pocket. When done as a part of new construction you can gain a savings of about $156 a month in electricity costs for just a few bucks more on your montly mortgage cost. Add in the fact that many ground source heat pumps also make most of a home’s  hot water at barely any extra cost, you quickly realize that you can’t lose by installing one of these sytems in your new home.

The only disadvantage of geothermal heat pumps is that you will need a big enough lot for a series of vertical wells to be drilled or for coiled pipe to be placed in a trench. If your home is next to a pond, the coils can be placed in the water. Not all properties are suited for ground source heat pumps, but many are.  Having installed a geothermal heat pump system in my own home is a decision that I don’t regret one bit.