Geothermal heating costs - January 14th 2002
Question from: Jacqui
We are planning to build a home in 2002. I have investigated all there is about geothermal and would like to have your views on cost. Most literature mentions that the cost of this system is recovered in 5 to 7 years. I find it hard to see that $24,000 to $30,000 is money well spent. It is hard to get clear ideas as in our area the temperature does not stay that cold and I never worry about air conditioning. I would like it from the green living point of view.
Geothermal is one of the few heating systems that will give you a yearly cost, which will remain stable as long as electricity doesn't go skyrocketing. Your information re: 5-7 years pay back is an industry average. Your home would have to be in excess of 3000 square feet. Geothermal is rated at approximately 300% efficient whereas a gas high efficient condensing type furnace is 90-92% efficient.
It's just that easy.