Geothermal Systems - savings
Get your 30% Federal tax credit on installed geothermal systems!
State and Local incentives are available in some areas. Click to get up-to-date incentive information for your location.
payback
From the moment the highly energy efficient geothermal system is installed into a home the owner receives a positive return on investment. A geothermal system can cost more up front but can pay for itself in four years and then save $129 a month. In a retrofit situation, homeowners will typically recover their initial investment through energy savings over a reasonable period of time. If the cost of installation is added to a mortgage, a home owner can expect a net positive cash flow immediately given the monthly operating savings from geothermal versus conventional HVAC operating costs. Furthermore, geothermal systems can significantly increase property and resale values by potentially offering an increase in market value of $20 for every $1 of utility bill savings.
Using geothermal systems for heating and cooling changes the way you pay for energy. Because you are taking advantage of the natural heating (or cooling) capacity of the earth, on property you own, you are drawing upon a new resource that is essentially free.
In a recent comparison of two Georgia homes, it averaged a Cartersville homeowner only 1.9 cents/square foot per month to heat and cool his home in 2010. The home is a ranch with a mother-in-law suite on a second floor. The total square footage is approximately 4500. Heating and cooling is provided by 2 geothermal systems and 1 gas furnace.
The comparison was with a Winston home approximately 1885 square feet heated. It is a ranch with a finished bonus room above the garage. This home is run by one 3-ton gas system. By comparing the power bills of both homes, taking out a lifestyle figure (lights, appliances) and then dividing by the square footage the geothermal home was clearly much more energy-efficient. The results were:
| Geothermal System home Cartersville | |
| 4500 sq.ft. at .019 | Annual heating and cooling expense $1028 |
| Conventional HVAC home Winston | |
| 1885 sq. ft. at .094 | Annual heating and cooling expense $2125 |
