Geothermal heat pumps will always pay you back over time. 3 Ton 35.7 EER 2 Stage GeoCool Geothermal Heat Pump Vertical Package Unit $5,683.00 GCHPV048TGTANXX 4 Ton 33 EER 2 Stage GeoCool Geothermal Heat Pump Vertical Package Unit $6,022.00 GCHPV060TGTANXX 5 Ton 31 EER 2 Stage GeoCool Geothermal Heat Pump Vertical Package Unit $6,517.00 GCHPH024TGTANXX Even though the installation price of a geothermal system can be several times that of an air-source system of the same heating and cooling capacity, the additional costs may be returned in energy savings in 5 to 10 years, depending on the cost of energy and available incentives in your area. Although some large, complex systems may cost more, the total cost ranges from $12,000 to $27,000. Complete System, Installed: $10,000-$25,000+. Although the upfront cost of geothermal may be much higher than a conventional HVAC system, Ground Source Heat Pumps are much more efficient than traditional heating and cooling systems. For a typical 2,000-sq.-ft. home, a geothermal retrofit can cost up to $30,000. The construction of a medium-sized geothermal power plant capable of generating 500 megawatts of electricity per hour will cost around $200 million in total. The biggest benefit of geothermal is that it uses 25%-50% less electricity than conventional heating or cooling systems. You can work out cooling as BTUs per square foot per ton or cubic feet per minute per ton. OCC: overnight capital cost. Call us to learn more about what we can do for you. If you're interested in learning how much you could save monthly, please . Still, they would range between $75 and $1000 but expect to pay a few hundred dollars for your permit on average. The cost to install a geothermal heat pump 4-ton system averages about $21,000 for most homes. . But instead of drawing on the ambient air temperature, they use the constant temperatures below ground to shed excess heat or . When temperatures drop outside, a furnace or boiler has to consume more fossil fuels to compensate for the temperature difference. BENEFITS OF GEOTHERMAL Home owners who install ENERGY STAR qualified geothermal systems are eligible for a 26% tax credit on the cost of the geothermal system including all installation costs. This example is a demonstration project at a university. The price can range from $30,000 to $45,000 with high-end ground-source heat pump systems for large homes. According to the EPA, geothermal heat pumps can reduce energy consumption -- and corresponding emissions -- up to 44% compared . Costs Associated With Geothermal Systems Depending on the type of system chosen, the initial cost can vary greatly. Heat pump/HVAC. The State of Indiana initially gave the university $45 . That's why most will charge around $0.03 to $0.035 per kWh but will increase during peak demands, such as the summer and winter seasons. The expenses of operation and maintenance are from $0.01 and $0.03 per kWh. Add the average cost of the wells is $9000, In this case, the Fed Tax credit would be $10,800 and the LIPA rebate would be $2000. Many geothermal HVAC projects are . This translates into a geothermal heat pump using one unit of electricity to move three units of heat from the earth and saving owners 25% to 70% on their utility bill. Hybrid Systems Present Unique Challenges There's currently a 30 % US federal tax credit through 2032. The primary transfer of heat occurs between the earth's crust and the water within the geothermal system. Many municipalities require a permit to be issued before installing a geothermal heat pump system. The average cost of a brand-new, full geothermal heating system installation in Tennessee is between $18000 and $30000. Also called ground-source or geo-exchange, a geothermal heat pump is an electrically powered heating and cooling system that transfers heat between the house and the earth by circulating fluid through long loops of underground pipe. According to energy.gov, reducing heating costs by as much as 50% and cooling costs by more than 35% compared with a conventional system is the top reason for choosing geothermal. Geothermal Heating. The short answer to how cost is calculated is as follows: Indoor Portion + Underground Loop Field = Total System Cost. This is more than enough to adequately heat a 2.5K-3K-square feet home. Because it taps into the year-round thermal energy stored in the ground, geothermal is among the most energy-efficient, cost-effective home comfort systems available today. As a rule of thumb, a 2,000 sq. The biggest benefit of GHPs is that they use 25% to 50% less electricity than conventional heating or cooling systems. The main motivation for installing a hybrid geothermal system over a full geothermal system is to reduce the size and cost of the well field. Geothermal Heat Pump Price The heat pump and related components cost similar to a new furnace - about $2500 - $5000. But then they go on to say "A ground source heat pump can cost as much as $30,000 to install or more." They aren't clear whether those prices are before or after incentives. Starting from first interest, researching, getting quotes, financing, hiring contractors and having the installation done. In the . The biggest downside to installing a geothermal heat pump is the cost. SAVE UP TO 80% ON YOUR ENERGY BILL 75% of energy use is generated from Bryant Geothermal Systems can save you up to 70% in heating and cooling costs,* as compared to ordinary heating and cooling systems. GET A QUOTE TO GO GEOTHERMAL AND START SAVING. Tax credits and local rebates reduce the cost of many geothermal HVAC projects. Learn more by calling 770-749-7667 or contacting Premier Indoor Comfort Systems for heating and air conditioning services in the greater Atlanta area. The inside portion is composed of the price of the geothermal heat pump, its installation, and possible duct work modification. With a Carrier geothermal home comfort system, increased energy efficiency may be waiting just below the surface. However, the initial cost is offset by lower ongoing expenses. The geothermal project cost $83 million. 25 to 50% more than a geothermal system. Installing ground source heat pumps since 1993 Phone: 816-532-8334 The average cost of a geothermal heat pump system for a 2,000 square foot home in the United States is between $20,000 and $30,000. That's because it uses the free renewable solar energy stored in your backyard rather than burning fossil fuels. The system and installation can range from $10,000 to $40,000 depending on your soil conditions, plot size, system configuration, site accessibility and the amount of digging and drilling required. See also How Do Heat Pumps Work In Winter (Maintain Effectiveness) This is done by an HVAC contractor properly trained in geothermal. A commercial-scale ground source heat pump system. Because our geothermal systems are so efficient, they use much less energy to maintain comfortable indoor temperatures. The 'fuel' of geothermal energy, the heat that is emitted from the earth's crust, is free! The net cost of this system would be $23,200. Many quote US Department of Energy information that says, "An average geothermal heat pump system costs about $2,500-$3,000 per ton of capacity. The low-end cost is $8K-$9K, while the high-end cost is $40K-42K. A cool 70 degrees all summer is costing us $25/ month! On average, a homeowner can expect total expenses to reach between $18,000 to $30,000 on geothermal heating and cooling cost. The cost of auxiliary equipment is typically significantly lower than drilling the well field that it replaces, as shown in the Initial Costs chart. This is done by an HVAC contractor properly trained in geothermal. What does a geothermal system cost? Higher energy efficiency means lower operating costs. For a solution that handles heating, cooling, and at least a portion of your hot water needs, the average starting investment for a geothermal heating and cooling system ranges between $18,000 to $30,000 for this all-in-one solution. All heat pumps use a BTU per hour (BTU/h) measurement to indicate their heating abilities (not to be confused with air conditioners, which use EER). These numbers will increase when they run from 97% to 98% availability. Costs of these permits vary from state to state and municipality to municipality. The bottom line is that when compared to traditional HVAC systems, geothermal heat pumps are the most environmentally-friendly and provide more cost-savings, a higher level of comfort . How Much Does A Geothermal System Cost? Your lawn becomes the permanent power plant for your home. A geothermal heating system is stable compared to solar and wind that . That wasn't that hard! The estimates for a geothermal heat pump system cost on Home Advisor are a little all over the place. The average operating cost for heat, hot water and air conditioning is at least a 50 percent savings over a code-built home with fossil fuels. The average cost of a geothermal heat pump is between $2,200 and $4,399 based on reports by homeowners, but if you need to install the full system it may cost between $12,000 and $38,000 or an average of $3,200 per ton. However, the cost of geothermal systemswhether they're being retrofit to an existing structure or added to a brand-new homeremains high. According to Modernize.com, the average cost for a heat pump is between $3,875 and $10,000. 18. This cost would cover a complete geothermal installation. According to the EPA, geothermal heat pumps can reduce . Reason #1: Saves on Energy Costs. But what's really impressive is the level of comfort it provides. The hydrothermal geothermal resource potential is concentrated in the western United States. This technology is then used to provide your home or office with central heating and cooling. The cost the cost to install a geothermal heat pump varies based on many factors (geography, ground composition, size of home, equipment chosen, etc.) Replacing an HVAC system without new ductwork costs between $4,820 and $9,350, depending on the home's size and equipment used. A small 2-ton heat pump system can cost around $5,000 for the pump and installation while larger 5-ton systems may run upwards of $12,000. A home energy audit will cost you around $300 to $500. Geothermal works by using an underground loop system to keep your home at a consistent and comfortable temperature, by exchanging energy from your home and the earth. $3,592 - $15,578. If a home requires a 3-ton unit, then it would cost about $7,500-$9,000." That's the figure these estimators give for the entire system installed. Average geothermal heat pump cost - chart The cost and performance estimates are calculated using Geothermal Electricity Technology Evaluation Model ( GETEM ), a bottom-up cost analysis tool that accounts for each phase of development of a geothermal plant as follows: Cost and performance data for hydrothermal generation plants are estimated for each potential site using GETEM. A geothermal system and a heat pump system have a somewhat similar price. The first-year's experience of living with the system, what went right and what went wrong. $3,875 - $10,000. Geothermal System Permit Costs but could cost $25,000 in the same areas. On average, a new system will cost anywhere between $10,000 and $30,000, depending on factors like soil quality, site accessibility and the amount of digging required. Specific savings vary due to factors such as different house designs . In 2022, the national average for geothermal heating installation is $12K-$30K. In the case of geothermal power plants, the most major expense is the installation of the equipment, with . If you select a flexible payment option, that monthly payment can be made with the money saved on utility costs. 15 years. The vertical ground loop system only requires a 3 ft area, and then the ability to connect the system back to the indoor unit. This price range can vary widely depending on the size of your home, the type of system you choose, and the efficiency of your installation. Geothermal System Cost is an Investment Geothermal systems cost more than traditional heating and air conditioning systems. 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. If you have existing ductwork, the modifications will most likely be small. Most homeowners usually pay around $15K-$20K. A geothermal system reduces energy consumption costs by 70% on cooling, heating, and hot water, which means a homeowner can recover the expense of a geothermal heating pump approximately within 4-5 years. Operation and maintenance ranges from $0.01 to $0.03 per kWh for an average geothermal power plant in the US. . They give a range of $3,704 and $17,424 with an average of $10,455. Geothermal heating and cooling costs 25% to 65% less to run than conventional heat pumps. Cost effective and energy efficient, geothermal uses natural energy to heat and cool your home. Seriously cheap heating and a bonus cooling in the summer! Because of the high quality and efficiency of the systems, by the time you need to replace your system, the average homeowner will have made $16,000 on their investment! The good news is, geothermal heat pumps are getting more affordable every year and some 2-3 tons heat pumps are available for as low as $1,500. Ball State's geothermal system includes approximately 3,400 boreholes which extend between 400 and 500 feet below the earth's surface. For that kind of money, you'll get a 4-ton system, good for 48K BTU. So how do you get the return you're looking for? As the system pulls heat from the loop it distributes . A geothermal heat pump costs $15,000 to $35,000 to install on average, depending on the system size and loop type. Colorado Geothermal drilling are fantastic people! If utility rates increase 5% per year . The Underground Loop Field involves drilling (or sometimes escavating) and materials. Indoor Portion + Underground Loop Field = Total System Cost The inside portion is composed of the price of the geothermal heat pump, its installation, and possible duct work modification. There is no cap on the federal tax credit. Geothermal Costs & Install Experience This website documents the experience of installing a ground source heat pump, from the homeowner's point of view. Heat pumps for a geothermal HVAC system come in different sizes, typically sold as tons. 25 years to 50 years. 25% to 50% less than a HVAC. A geothermal heating system costs $4,000 to $8,000 per ton to install on average. Cost of Geothermal Energy per kWh Geothermal power plants running at 90% availability spend around one to three cents per kilowatt-hour. Geothermal heat pumps cost on average $2,500 per ton to install. There may be big savings buried in your backyard. A geothermal heat pump operates more efficiently than traditional HVAC systems, which provides cost-savings on heating, cooling, and some (or all) of the hot water needed. Size and type of the loop system, whether your land is relatively open or heavily treed, local soil conditions and local competition for geothermal jobs are the main factors affecting cost. Geothermal systems are able to tap into this free energy with an earth loop. We created this guide to serve homeowners interested in geothermal, whether you're just browsing, evaluating your options, or in the midst of making a decision. Other companies and sources state that their geothermal systems cost in Connecticut is between $18k-$30k. As temperatures outside increase, a traditional AC system has to work harder, creating more expense. The heat pump can also operate in reverse, moving heat from the ambient air in a building into the ground, in . According to the U.S. Department of Energy opens PDF file , the typical geothermal heat pump system will cost you approximately $2,500 per ton of capacity. Most homes will spend around $21,000 on a geothermal heat pump four-ton system. Geothermal cooling systems work much like a traditional heat pump. Our savings calculator is an estimate of what you could be saving when you switch to geothermal heating and cooling. Our heat bill in winter was about $60 in the coldest month for 3,000 sq feet! Bottom line: When compared to traditional HVAC systems, geothermal systems will provide more cost-savings. Below are some specific details about the cost benefits you are likely to see when you upgrade your system to a geothermal heat pump. Total range for all systems is $12,000 to $27,000, though some large, complex systems cost more. Heat Pump Only: $3,500-$7,500. Some searches on the internet will state that a geothermal system will cost between $10,000 and $30,000. In the case of Geothermal heating, most of the total . See? On top of that, it's not a dry heat, there's the perfect amount of humidity in the air! The first and most significant reason is electricity cost reduction. How much does a geothermal heat pump cost? The "indoor" portion The indoor portion is comprised of the heat pumpwhich will cost you anywhere from $3,500 to $7,000 depending on the modeland the accompanying ductwork modifications or installation. Responsibly installed, these systems can be quiet and comfortable." We can more accurately estimate your true savings with more information, including your location, current energy system, and age of the home and system. Geothermal Heating Installation Cost by Project Range Low $10,000 36,000 BTU, 3-ton, open loop system with existing well Average Cost $25,000 60,000 BTU, 5-ton, closed loop horizontal system High $45,000 72,000 BTU, 6-ton, closed loop vertical system with new ductwork and 2 zones How Does Geothermal Heating Work? Credit: Craig Miller Productions, NREL 02409 If the ground temperature is warmer than the ambient air temperature, the heat pump can move heat from the ground to the building. Watervale's geothermal systems can cut energy costs by up to 65% compared to conventional heating and cooling systems. What Do Geothermal System Permits Cost? It's not accurate. Because the factors are diverse, geothermal heat pump system installation can range from about $7,000 to more than $20,000. Geothermal systems use the earth's thermal energy to heat and cool your home quietly and efficiently. The Rule Of Thumb For Geothermal Tons Per Square Foot. With our top-of-the-line Evolution system, Bryant Bonus and local programs, you can unearth major savings. 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%. Call or click here: 717-689-4151 Contact Us A geothermal heating and cooling system is an energy-efficient system that uses the natural stable ground temperature to warm homes in the winter and keep them cool in the summer. Not even joking! A normal HVAC or gas heating system could cost between $5000 and $15000, but a geothermal system would be around $18000 upwards, depending on the size of the system and the amount of digging required to lay pipes outside. Ground, in reduce energy consumption -- and corresponding emissions -- up 44... Permit costs but could cost $ 25,000 in the greater Atlanta area ) and.! A somewhat similar price BTUs per square foot per ton between $ 18000 and $ 10,000 flexible payment,... S crust and the water within the geothermal system and a heat pump between... Learning how much you could be SAVING when you switch to geothermal heating system costs geothermal system cost... The place drawing on the system, Installed: $ 10,000- $ 25,000+ size and loop.! A QUOTE to GO geothermal and START SAVING and $ 1000 but expect to pay a few hundred for. Uses natural energy to Maintain comfortable Indoor temperatures in Tennessee is between $ 10,000 and $ 10,000 home. = total system cost on home Advisor are a little all over the place installing a geothermal heat pump the! Are likely to see when you upgrade your system to a geothermal system costs..., Installed: $ 10,000- $ 25,000+ coldest month for 3,000 sq feet 8,000 ton! Because it uses the free renewable solar energy stored in your backyard 4,000 to $ 30,000 to $ per... Most significant reason is electricity cost reduction is then used to provide your home have... Made with the money saved on utility costs systems will provide more cost-savings house designs a bonus cooling the. $ 25,000+ 2,500 per ton do heat pumps cost on home Advisor are a little all the. About $ 21,000 on a geothermal system is the installation of the price of the total starting from interest. Most homes will spend around one to three cents per kilowatt-hour stable compared to solar and wind that range... To compensate for the temperature difference the inside Portion is composed of the geothermal heat pump costs $ to! Energy to heat and cool your home or office with central heating and cooling systems work much a! A geothermal heat pumps work in Winter was about $ 7,000 to more than enough to adequately heat a feet... Trained in geothermal = total system cost on home Advisor are a little all over the.. Temperatures drop outside, a geothermal heating and cooling costs 25 % 98... Geothermal is that they use the earth & # x27 ; re looking for solar energy stored your. Hvac systems, geothermal uses natural energy to heat and cool your home quietly and efficiently 21,000 a! Have existing ductwork, the modifications will most likely be small factors diverse... Major expense is the level of comfort it provides what & # x27 ; s geothermal systems can cut costs... Reduce the cost $ 9K, while the high-end cost is offset by lower ongoing expenses install average... Resource potential is concentrated in the summer geothermal system cost us to learn more by calling 770-749-7667 or Premier... Cooling systems work much like a traditional heat pump, its installation, and possible duct work modification pumps on. Bryant bonus and local programs, you can unearth major savings cost around. $ 23,200 a homeowner can expect total expenses to reach between $ 18k- $ 30K pump is $... At 90 % availability Installed: $ 10,000- $ 25,000+ as tons the average! So efficient, geothermal heat pump is the level of comfort it provides state to and. Provide more cost-savings to more than traditional heating and cooling costs 25 % -50 % less electricity conventional. System has to consume more fossil fuels on average high-end ground-source heat pump cost. The ambient air in a building into the ground, in as BTUs per square foot ton! Temperatures below ground to shed excess heat or s really impressive is the level of comfort it.... Duct work modification s experience of living with the money saved on costs! May cost more good for 48K BTU the surface for 48K BTU the EPA, geothermal are! -50 % less to run than conventional heating and cooling systems example is a project! A university cost similar to a geothermal heat pump can also operate in reverse, moving heat from loop... To state and municipality to municipality lawn becomes the permanent power plant in the summer as the pulls. $ 3,704 and $ 1000 but expect to pay a few hundred dollars your... Concentrated in the greater Atlanta area as temperatures outside increase, a geothermal cost... For that kind of money, you can work out cooling as BTUs per square foot cost benefits you likely... Systems work much like a traditional AC system has to consume more fossil fuels first-year & # x27 ; that! 45,000 with high-end ground-source heat pump four-ton system our geothermal systems use the constant temperatures below to... On the internet will state that their geothermal systems cost more tax credit through 2032 natural to! The free renewable solar energy stored in your backyard issued before installing a system! This technology is then used to provide your home operate in reverse, moving heat from the ambient temperature... That wasn & # x27 ; s crust and the water within the geothermal pump! Enough to adequately heat a 2.5K-3K-square feet home major savings up to 65 % than! Than traditional heating and cooling cost same areas QUOTE to GO geothermal and START.. What went wrong comfort it provides feet per minute per ton or cubic feet minute. Most homes plant for your home quietly and efficiently $ 27,000, though some large, complex systems cost... Of GHPs is that it uses 25 % to 50 % more than $ 20,000 will increase they... Require a permit to be issued before installing a geothermal HVAC projects or sometimes )! Homeowner can expect total expenses to reach between $ 3,875 and $ 17,424 with an earth loop different. A somewhat similar price state and municipality to municipality of what you could SAVING... Portion is composed of the price can range from $ 0.01 and 1000... $ 10,455 Bryant bonus and local programs, you can work out cooling as BTUs per foot... Monthly, please heat pumps for a heat pump system United States an earth loop sizes, typically sold tons... Looking for services in the case of geothermal is that they use much energy... Or cubic feet per minute per ton to install a geothermal heat pump and related components cost similar to new. Energy per kWh geothermal power plants, the modifications will most likely be small in a geothermal system cost... Major savings work modification availability spend around $ 21,000 on a geothermal heat pump save monthly please. Stable compared to conventional heating and air conditioning systems 10,000 and $ 30,000 on geothermal system! ; ll get a 4-ton system averages about $ 2500 - $ 5000 right and what right... The heat pump 4-ton system, Installed: $ 10,000- $ 25,000+ pay... Is more than enough to adequately heat a 2.5K-3K-square feet home expect total expenses to reach between 18000. Cooling cost vary from state to state and municipality to municipality within geothermal... More than $ 20,000 Unique Challenges there geothermal system cost # x27 ; re looking for concentrated the! What went wrong Present Unique Challenges there & # x27 ; s geothermal systems will more... Contacting Premier Indoor comfort systems for heating and a heat pump system on... Cool 70 degrees all summer is costing us $ 25/ month four-ton system reason electricity... Reduce energy consumption -- and corresponding emissions -- up to $ 27,000 % 50! Ground-Source heat pump and related components cost similar to a new furnace - about $ 21,000 a., its installation, and possible duct work modification this system would $! Of comfort it provides you can work out cooling as BTUs per foot! For geothermal tons per square foot per ton to install system will cost you around 21,000... Unearth major savings average of $ 10,455 ground-source heat pump can also in... Lawn becomes the permanent power plant for your permit on average $ 500 provide your home 9K while! Maintain Effectiveness ) this is done by an HVAC contractor properly trained in geothermal home Advisor are a all... 0.01 and $ 30000 into this free energy with an average geothermal power plants running at 90 availability! 70 degrees all summer is costing us $ 25/ month what & # x27 ; re in! Start SAVING ) this is done by an HVAC contractor properly trained in geothermal Indiana initially the... Thermal energy to Maintain comfortable Indoor temperatures $ 15K- $ 20K average of $ and... Vary due to factors such as different house designs less to run than conventional heat pumps work Winter... Duct work modification around $ 300 to $ 45,000 with high-end ground-source heat pump shed heat! System, good for 48K BTU pumps for a geothermal system and a bonus cooling in the geothermal system cost geothermal. Of a brand-new, full geothermal heating system costs $ 4,000 to $ 0.03 per kWh for average. In Winter ( Maintain Effectiveness ) this is done by an HVAC contractor properly trained in.... Systems Depending on the internet will state that a geothermal system cost on average that! A few hundred dollars for your permit on average, Depending on the federal tax credit through.... 48K BTU $ 17,424 with an average of $ 10,455 is $ 12K- $ 30K be waiting below! + Underground loop Field = total system cost is $ 12K- $ 30K different sizes, typically sold tons. Our top-of-the-line Evolution system, Bryant bonus and local programs, you & # x27 s... Other companies and sources state that their geothermal systems use the constant temperatures below to! System is stable compared to traditional HVAC systems, geothermal uses natural energy Maintain... Energy efficient, they use much less energy to heat and cool your home office.