Weighing the Initial Cost of a GeoThermal Installation Against Long-Term Savings
You may have heard how efficiently a GeoThermal installation operates and how long it lasts. But at the same time, its larger upfront costs may have put you off, preventing you from further investigating a geothermal system. While GeoThermal generally requires a sizable investment to purchase and install it, once it’s installed, it will pay you back for many years to come.
Here’s a look at the long-term savings that a geothermal installation offers homeowners. Once you run the numbers, you’ll see why more and more homeowners, businesses and aquatic parks are turning to GeoThermal systems for their durability, reliability and lifetime savings.
The cost of a GeoThermal installation
GeoThermal equipment generally costs more to purchase and install than conventional forced-air heating and cooling systems due to the purchase price of the necessary materials and the labor to install it into the water source. However, once you’ve paid to put the system into place, the savings begin immediately.
The lifetime costs of a GeoThermal installation
With the GeoThermal installation in place, you can expect to save significantly through:
- A long system lifespan, as the components typically require less repair and replacement than traditional heating and cooling systems.
- Tax credits that help offset the purchase price.
- Estimated savings of up to 60 percent on energy costs each month. Over the years, that 60 percent can add up to a lot of saved money in energy costs and can help to quickly pay you back for the initial investment.
- Green loans, available for newly constructed homes and energy-efficiency retrofits, wrapping the costs of the GeoThermal system into your mortgage for a relatively small increase in total payment.
- The selection of a system with a higher efficiency rating. Look for a coefficient of performance (COP) starting at 4.5 and an energy efficiency ratio (EER) of 19.
At Symbiont Service Corp., we’ve been helping homeowners, businesses, and condominium and homeowner associations get the most out of their GeoThermal installation since the 1980s. Contact us today for more information.
Our goal is to help educate our customers in Englewood, Florida and surrounding areas about energy and home comfort issues (specific to HVAC systems). For more information about geothermal installation and other HVAC topics, download our free Home Comfort Resource guide.
Image courtesy of Shutterstock
Stay In The Loop
Don't miss out! Like us on Facebook or subscribe to our RSS Feed on Feed Burner and get our latest posts.