1. Initial Costs vs. ROI
There’s no avoiding it: replacing your current HVAC system with a geothermal heating and cooling system is a pricy proposition. Initial costs here in Scranton tend to be anywhere from $10,000 to $30,000 – or more. Lot size, site accessibility, system configuration, ground conditions, and other factors account for that. So too does the amount of excavation that has to be done and what kind of ductwork modifications are required. And if you’re having a new home constructed? It’s not as pricy, overall, but it’ll still cost approximately 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, certain incentives and rebates may be offered at the federal, state and local level to help you bear the installation costs. What’s more, the energy savings achievable 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 advised: Local utility rates and the end cost of your installation may hold up full repayment for as long as 15 years. Seeing as how geothermal systems tend to keep working for upwards of 30 or 50 years, though, you’ll still come out ahead. You merely have to calculate sooner rather than later what your finances can weather … and how patient you are.
2. Geothermal Benefits Can Easily Offset Any Anxieties About Starting Costs
Let us itemize the most significant benefits:
- Compared to typical heating and cooling systems, geothermal heating and cooling could slash 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 transferred from the ground.
- Geothermal heat pumps don’t work by combustion, so there are no greenhouse gas emissions (carbon dioxide, carbon monoxide, etc.) and no fire safety or air quality concerns.
- Given that no outdoor fans or compressors are required, geothermal heating and cooling systems are much quieter than common systems.
- The absence of many complicated moving parts and the fact that geothermal systems are sheltered from the elements insure many decades of low-maintenance, top-performance use. Indoor components may hold up for about 30 years, ground loops, about 50.
Need a little clarification on any of these points in order to make a decision about your heating and cooling options? Visit the Scranton geothermal pros at Jim Lamberti Contracting Services, LLC. We’re glad to help, regardless of what you decide.