How much does it cost to install geothermal heating and cooling?
Cost to install a geothermal heat pump system depends on the heat loss of the building. You can estimate that most installations in new homes will be 10-15% more than an equivalent heating/cooling system. This does not include the added costs for the outside work. This is around double the cost of a conventional heating, cooling, and hot water system, but geothermal heating/cooling systems can reduce utility bills by 40% to 60%. The payback for a system can range from 2-10 years, while the lifetime of a system can be 18-23 years, almost double a conventional system. Geothermal heating system price varies depending on the type of loop system, usually either vertical or horizontal. On average, a typical home of 2500 square feet, with a heating load of 60,000 BTU and a cooling load of 60,000 BTU will cost between $20,000 to $25,000 to install. While geothermal heating and cooling costs several times more than other technologies, these systems pay for themselves in energy savings in 5 to 10 years, according to the U.S. Department of Energy. The average national cost to install a geothermal heating or cooling system is $5,745, with most homeowners spending between $3,534 and $11,089. Cost to install a geothermal heat pump system depends on the heat loss of the building. You can estimate that most installations in new homes will be 10-15% more than an equivalent heating/cooling system. Renewable Energy Vermont estimates the cost of the above ground geothermal components at $3,800 to $5,000 per ton of capacity at the time of publication, plus $1,500 to $2,000 per ton for the underground portion of a typical geothermal system. NEXT STEP. Find out how much your project will cost. Provide a few details about your project and receive competitive quotes from local pros. The average national cost to install a geothermal heating or cooling system is $5,745, with most homeowners spending between $3,534 and $11,089. Geothermal heating systems offer a whopping 300 to 600 percent efficiency rating, which can save you money on energy bills while helping to ease your impact on the environment. Despite the efficiency and potential savings associated with these systems, many buyers may be deterred by the high up-front cost of geothermal. If you're thinking about installing a geothermal system, the initial cost is certainly one of the factors that plays a role in the decision-making process. Although geothermal heating and cooling will probably save you money in the long run, it is more expensive than conventional systems.
between $20,000 to $25,000.