How Soon Can I Expect Returns From my Geothermal Heat Pump?

Installation of a geothermal heat pump involves high upfront costs but with the promise of drastic savings over time.  So the question on everyone’s mind is, when will I start seeing returns on my geothermal investment? (Geoexchange Calculations)

How soon you start seeing returns on your investment is dependent on a number of factors but for most consumers the system will pay for itself within 3-7 years of installation. While it may take time for the system to pay itself off completely, consumers will begin to see savings immediately. Geothermal heat pumps save consumers between 30% and 70% on heating costs and between 20% and 50% in cooling costs! Think of geothermal in terms of net present value – you can have positive cash flow from day 1. Will you ever get this from your gas/oil furnace? No.

Some consumers fear that by installing a geothermal heat pump their electric bill is going to skyrocket. This is a myth! Because you are eliminating other heating and cooling utility bills there will be an increase in your electric bill but the overall savings will drastically outweigh this increase. A major spike in your electric bill could be a result of incorrect installation causing your heat pump to run inefficiently.

Not only will you see savings immediately, but due to the long lifecycle of a geothermal heat pump you can expect to continue saving for over 50 years!

With the federal, state, and local incentives for replacing traditional heating and cooling units with green energy units there is no better time than now to consider a geothermal heat pump.  Click for a list of geothermal incentives and rebates by state!

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Comments (2)

 

  1. Randy says:

    How can I get a payback in 3-7 years when the contractor is bidding geothermal systems between $28,000 and $34,500. I can buy a gas furnace and a/c unit for under $9,000.
    I would love to have a geothermal system……..I just cannot see it paying for itself in that short of time frame and most of my friends inside units only lasted 10-15 yrs.
    Thanks for your help,
    Randy

  2. […] his green efforts, he knows that the installation of a geothermal heating and cooling system will benefit his wallet as well saving him up to 70% on his heating and cooling bills. To find out what a similar system […]

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