What are the financial considerations?

How much am I going to save? It depends on how energy efficient your current heating and cooling system is – replacing the least efficient systems will reap the greatest benefit. Those who have older systems and/or oil heat with electric air conditioning will fall in this category, and generally see a 60 – 70% savings on their energy bills. Others will see an approximate 50% reduction.

Geothermal systems can reach fairly high efficiencies - from 300% to 600%. For example, with a system that is 400% efficient every dollar spent operating the system would yield $4 of heat. Although the upfront costs are significant, ground heat pumps will pay for themselves over time with energy cost savings - usually in five to ten years. Tax rebates and grant programs may make ground heat pumps even more affordable as well.

What about the environmental benefits?

Is it really that good for the environment? Absolutely. According to the U.S. Department of Energy:

“Geothermal heat pumps are among the most energy and cost-efficient heating and cooling systems available today. They use less electricity and produce fewer emissions than conventional systems, reduce air and water pollution, and provide a comfortable indoor environment for building occupants.”

Approximately 1,000,000 geothermal heat pumps are being used today for heating and cooling throughout the United States in residential, commercial, and government buildings. 50,000 more go online every year in the U.S. alone. Installing geothermal will significantly reduce your carbon footprint and your nation’s dependence on foreign oil.