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So for a total of $50K I would be off natral gas and producing my own electricity . So, the payback period for PVs @$10K is about 7 years with a projected warrantied life of 25. Payback period for geo @ $30K is about 20 years with a projected life of well over 50 years. Also, my loan payments woud be about 38% higher than my current utility bills for the next 10 years.
The system uses electricity to operate, but much less than other HVAC systems. The actual energy used to heat and cool your home comes from the earth. This is different from geothermal energy, which creates electricity from inside the earth. Residential units range from 2.0 ton/24,000 BTU to 10.0 ton/120,000 BTU. In fact, if we combined all the heat emitted from the Earth within about 30,000 feet from the surface, wecould generate 50,000 times more energythan all global natural gas and oil sources combined!
How Much Does a Geothermal Heating and Cooling System Cost?
PSEG Long Island rebate is based on the COP and EER of the unit. Long Island homeowners who install a typical 4 ton system in a 2500 sq ft home get an $8,383 rebate for a new Dandelion Geothermal system. Open-loop systems – These types need a contained, private water supply like a well or pond 8’ to 12’ deep.
The square footage of the space.Homes over 2,500 square feet require larger ground loops and more powerful heat pumps. Ask about layout options like coiled loops to save you space and keep you from installing the more costly option—vertical loops. Thermostat setback is counterproductive when operating a geothermal system. Unlike a furnace, a geothermal system is carefully designed to meet a home’s precise heating and cooling needs.
See the Savings From Real-Life Installations
Well drilling – Geothermal well drilling costs $5 to $40 per foot for vertical-system installs. Boreholes are 4” to 8” wide, 100’ to 500’ deep, and spaced 10’ to 20’ apart. Most homes need 3 to 5 boreholes with 300’ to 500’ of piping per ton of system-heating capacity. The geothermal energy tax credit allows homeowners to claim 22% to 26% of the total cost from their federal taxes throughout 2023. This is not a home improvement project that should be done without professional help.
For example, the underground pipe loop portion of the system can last up to 50 years. The geothermal unit itself has a slightly shorter lifespan, averaging 15 to 20 years before needing to be replaced. This type of system is only practical when there is an adequate supply of clean water. Homeowners considering this system will want to keep in mind that all local codes and regulations about groundwater discharge must be met. Insulation is any material used to fill the spaces in your home to reduce and resist unwanted heat flow.
Can geothermal heating be installed anywhere?
So, if you have more windows in your home, this can drastically increase your project costs. In direct exchange systems, the absence of a heat exchanger gets made up by a larger compressor and the bigger price tag attached to the copper tubing. This makes your geothermal costs for both systems almost even. Direct exchange systems work best in wetter soil areas and heat exchangers work best in any corrosive soils where copper does not work well. When you buy this system, the area where you want to install it will impact the type of system you can get.
Making your windows more energy efficient also lowers heating and cooling costs. A new set of replacement windows could be anywhere from $3,500 to $10,500. You can choose from fiberglass6 or wood replacement windows to improve energy efficiency and keep geothermal costs under control. Water-to-air heat pumps use heated liquid inside the system to heat forced hot air that runs through your ducts.
It takes precision and expertise to design the system around climate, different soil conditions, and water while factoring in home size and household preferences. A professionally installed system can last decades and drastically cut your energy bills, so it’s worth paying a pro to get it right. Correctly installed, permanent loops require almost no maintenance or replacement for 50-plus years.
Without this knowledge, it’s difficult to understand the value of a geothermal installation or feel confident you’re paying a fair price. In case you’re in a hurry, click here to skip to Dandelion Geothermal’s price. Zoning lowers energy bills by 30% per month by controlling the heating and cooling in each area of the house. Smart thermostat installation costs $225 to $400 on average.
During the summer, heat flows from the warmer outdoors into the cooler indoors. In addition, air can inadvertently enter and escape through a home’s cracks, crevices, and openings, especially around doors and window frames. The ground loop itself is sealed and requires no maintenance. The pipes are made of an inert and extremely durable material—the ground loop will probably outlast your home. A furnace consumes a very small amount of electricity to power the fan, and other minor electrical components, but most of the energy added by a furnace is through combustion.
Older or damaged ductwork may also need to be modified or replaced. Generally speaking, a larger home will require a larger geothermal system to meet its heating and cooling needs. This means more materials and additional labor to get the job done.
Based on the heat loss number, both are designed with a 4-ton heat pump. Also ask contractors about redundant loops and coiled systems when you request free estimates. This more efficient ground loop system that still works for your BTU capacity could save you thousands. Some utility companies only read electric meters every other month, despite billing monthly.
For a homeowner looking for a heating and cooling system that won’t call it quits too soon, a geothermal system offers an impressively long lifespan. However, a system that receives minimal to no maintenance or wasn’t properly installed to begin with may not have as many good years as a homeowner might hope. An inspection from a trained geothermal contractor can provide some insight into how much longer an existing geothermal system will last before repair or replacement becomes more likely.
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