1. Starting Costs vs. Payback
There’s no getting around it: replacing your existing HVAC system with a geothermal heating and cooling system is an expensive proposition. Up-front costs here in Salem can run anywhere from $10,000 to $30,000 – or above. Lot size, site accessibility, system configuration, ground conditions, and other matters play into it. So too does the amount of excavation that must be done and what type of ductwork modifications are needed. And if you’re building a new home? It’s not as pricy, usually, but it’ll still cost about 40 percent more than a traditional HVAC system will cost you.
Okay, you wanted the bad news first. Now, for the good news. To begin with, some sort of incentives and rebates may be accesable at the federal, state and local level to help you out with installation costs. What’s more, the energy savings you could realize with your new geothermal heating and cooling system will start returning your initial investment almost immediately. That means you could recoup your investment in as little as four years. But be forwarned: Local utility rates and the end cost of your installation may hold up full repayment for something like 15 years. Seeing as how geothermal systems typically keep working for upwards of 30 or 50 years, though, you’ll still make out all right. You just have to calculate early on what your finances can withstand … and how patient you are.
2. Geothermal Benefits Can Easily Outweigh Any Anxieties About Front-End Costs
Let us cite the major benefits:
- Compared to more familiar heating and cooling systems, geothermal heating and cooling could lop as much as 30 to 60 percent off your heating bills. And it could decrease your cooling costs by as much as 20 to 50 percent.
- Geothermal systems use renewable energy – heat taken from the ground.
- Geothermal heat pumps don’t work by combustion, so you’re not endangered by greenhouse gas emissions (carbon dioxide, carbon monoxide, etc.) and you have no fire safety or air quality concerns.
- Because no outdoor fans or compressors are required, geothermal heating and cooling systems operate much quieter than conventional systems.
- The absence of many complex moving parts and the fact that geothermal systems are sheltered from the elements pretty much guarantee many decades of low-maintenance, top-performance use. Indoor components may last about 30 years, ground loops, about 50.
Looking for a little clarification on any of these points in order to make a decision about your heating and cooling options? Visit the Salem geothermal experts at Mill Creek Heating. We’re glad to help, whatever you decide.