Frankfort, Georgetown, Lawrenceburg, Lexington, Nicholasville, Sadieville, Wilmore, and Versailles
The geothermal heat pump can save you so much money in energy costs (while helping the environment) that you will be tempted to install one immediately. Though this seems like a win-win, it is costly to install, so let’s take a look at some of the pros and cons to help you make the best decision for you and your home.
3 Major Items to Consider:
- Geothermal systems works like your fridge. Heat is transferred from the ground to your house (or vice versa) by using long loops of underground pipes filled with liquid (water or an antifreeze solution). The loops are hooked up to a geothermal heat pump in your home, which acts as both a furnace and an air conditioner. A geothermal heat pump is vastly more efficient than other heating systems because it doesn’t burn fuel to create warmth; it simply moves existing heat from one place to another.
- The upfront costs are scary. Let’s not sugarcoat it – installing a geothermal system is expensive. From $10K to $30K depending on your soil conditions, plot size, configuration and accessibility. Recouping the costs through energy savings could take as little as four years or as long as 15 years. Be sure to ask yourself how long you’re willing to go before the financial benefits start kicking in.
- Geothermal has real benefits. Much lower operating costs than other systems. Uses clean, renewable energy (the sun). Can be installed in both new construction and retrofit situations. Much quieter than other cooling systems. Low maintenance and long-lived.
Is Geothermal right for you? About 100,000 geothermal heat pumps are installed in the US each year. You should consider joining that elite club if:
- You can stomach the upfront costs and plan to stay in your house at least 4-7 years.
- Live on a large lot with a pond or well. This would allow you to use a less expensive loop system.
- Are building a new house and can roll the upfront costs right into the mortgage.
- Have an existing house with very high energy bills. Most likely using propane, oil or electricity for heating and cooling.
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