David_Cary
Active Member
As someone who has built and considered geothermal. It doesn't pencil out in moderate climate areas.
It is also true that there are large inefficiencies and lack of competition in moderate climate areas which make the cost prohibitive.
In NC, we had (still have?) a state tax credit so you were getting 65% or so of your entire HVAC bill back. But when Geo was $80k and standard (decent HPs) is $15k, even the huge tax credit doesn't work.
Yes with hot water and assuming less maintenance/longer life, you can imagine in a low interest rate environment then maybe.
But, even without a solar state tax credit, that makes so much more sense in today's financial/rate structure environment.
My HERS is -7 without geothermal, with solar. My total HVAC install cost was $15k. I have a heat pump hot water heater too so we can call it $17k. 3800 sqft. Pool.
My last bill had 350 kwh of credit - because of less driving. I lose all that credit May 31 (when it will be 700 or 800 kwh).
Now if net metering goes away, batteries stay expensive, electricity reaches CA rates, and NG is outlawed - then absolutely Geo makes sense.
BTW - my last energy audit which showed comparison costs showed a $200 a year savings with Geo over conv HPs. Even if you get geo down to $5k over HP, that is still 25 years ignoring time value of money.
Drilling a well alone in my area costs $8k. You can't just get below a slab - you will cool the local earth.
It is also true that there are large inefficiencies and lack of competition in moderate climate areas which make the cost prohibitive.
In NC, we had (still have?) a state tax credit so you were getting 65% or so of your entire HVAC bill back. But when Geo was $80k and standard (decent HPs) is $15k, even the huge tax credit doesn't work.
Yes with hot water and assuming less maintenance/longer life, you can imagine in a low interest rate environment then maybe.
But, even without a solar state tax credit, that makes so much more sense in today's financial/rate structure environment.
My HERS is -7 without geothermal, with solar. My total HVAC install cost was $15k. I have a heat pump hot water heater too so we can call it $17k. 3800 sqft. Pool.
My last bill had 350 kwh of credit - because of less driving. I lose all that credit May 31 (when it will be 700 or 800 kwh).
Now if net metering goes away, batteries stay expensive, electricity reaches CA rates, and NG is outlawed - then absolutely Geo makes sense.
BTW - my last energy audit which showed comparison costs showed a $200 a year savings with Geo over conv HPs. Even if you get geo down to $5k over HP, that is still 25 years ignoring time value of money.
Drilling a well alone in my area costs $8k. You can't just get below a slab - you will cool the local earth.