This cost would cover a complete geothermal installation. The size of your home and location, the land available, the type of soil, the local climate, the condition and ease of use of the current ducts, and the type of heat pump you choose will affect the total cost. Horizontal loop systems have a lower installation cost, but require a plot of land sufficient for 3 to 5 trenches that are 130 to 160 feet long and 12 to 20 feet apart. The water or antifreeze that circulates through the pipes collects heat for heating in winter and discharges it for air conditioning in the warm months.
Submerged circuit systems are also installed in a pond or other body of water, at a comparable cost. But they're not an option for most homeowners. Depending on the type of fuel your old furnace used and your heating needs, the total savings could amount to thousands of dollars over the life of your Dandelion geothermal system. Depending on your garden, your geothermal heat pump professional will recommend a horizontal, vertical or loop system.
All of these factors also contribute to the cost of the geothermal heat pump that a homeowner can expect to spend during installation. The first question homeowners often ask about geothermal heating and cooling systems is how much it costs to install them. Until 2024, a federal tax credit exists to help cover the cost of installing renewable energy systems, such as geothermal heat pumps. A geothermal heat pump draws cold air from the house in winter and passes it through underground pipes to reheat it and return it inside.
Geothermal systems don't require fossil fuels to operate, protecting homeowners from rising heating bills. Geothermal systems don't have to work harder due to extreme outdoor air temperatures, as do other heating and cooling systems. You might be wondering how geothermal heat pumps save homeowners money when they consume more electricity than furnaces. Variable stage heat pumps cost more than single or two-stage heat pumps, but may have higher repair costs due to their complexity and only their average durability.
Despite these net savings, homeowners are sometimes skeptical when they learn that geothermal heat pumps consume more electricity than the furnaces they replace. In summer, geothermal heat pumps use electricity to capture the warm air in your home and transfer it to the colder floor. Two measures are used to calculate the efficiency of a heat pump: the heating performance coefficient (COP) and the cooling energy efficiency ratio (EER). Below is an example of a typical 2,500 square foot home in Cortlandt, New York, with central fuel and air conditioning instead of Dandelion geothermal heating and cooling.
Compared to the cost of geothermal energy about a decade ago, the pricing structure is increasingly competitive, thanks to the fact that more manufacturers offer cooling and heating systems from terrestrial sources and to more experienced and efficient installers. The ideal time to install a geothermal heating pump is when you build a house, so you can take advantage of the benefits right away and not have to modernize it.