Geothermal heat pumps also known as ground source heat pumps use the earth's energy to provide heating, cooling and hot water for residential and commercial buildings anywhere in the United States.
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Geothermal systems are a proven, reliable technology that has been used for decades around the world.
The heat pumps carry a warranty of 5-10 years, and usually last for over 25 years.
- The underground pipes carry a warranty of 50 years.
They can be installed almost anywhere in the United States. They take advantage of nearly constant temperature of the earth.
The temperature a few feet below the surface is a constant 50 - 60 degree Fahrenheit.
This temperature is warmer than the air above it in the winter and cooler in the summer.
A single system can reduce the cost of heating by 50% - 70%, and cost of air-conditioning and hot water by up to 50%. The savings may be significantly higher if you are replacing an old, inefficient heating and air-conditioning systems.
Typical residential systems cost between $15,000 and $40,000 and commercial systems can cost in the tens or hundreds of thousand dollars.
- Heat pumps costs range from $2,500 - $7,500.
Cost to drill and lay pipes / tubes to support the geothermal system cost an additional $5,000 - $25,000.
Cost is driven by the location, property characteristics, type of loop installed, etc.
Net cost of these systems is significantly lower as the property owner can claim 30% of the total system cost as tax credit. Additional incentives from local governments or utilities can further reduce the net cost of the system.
A residential system can generate an annual return on investment (ROI) of 8%-20% while commercial systems' annual ROI can exceed 30%. Annual returns get better as energy prices rise every year.
Geothermal Systems are suitable for property owners who have high heating, air-conditioning and hot water bills, and have sufficient space (land) available to install the pipes in the ground and have suitable distribution system in the property (e.g., forced air systems, radiant heating systems).
Residential systems can be installed in yards as small as a third of an acre.
They can easily be integrated into your existing heating and cooling systems.
Since geothermal systems have no outside condensing units like air conditioners, they are quieter to operate.
Almost 50,000 geothermal systems are installed in the U.S. every year. This number is increasingly rapidly as more HVAC contractors start offering these systems and more people find out about them.