After a lot of thought, we've decided to go ahead and get the geothermal heating and cooling system, even though it costs a few thousands dollars more than a traditional high-efficiency furnace. Price tag: $12,400.
Three factors made the decision for us. First, geothermal is one of the most efficient forms of conditioning the air in your home. It is up to 500 percent energy efficient, and emits very little CO2. Also, any extra heat the system generates would be used to heat our water, displacing some of the natural gas we currently use. The geothermal heat pump is also a high-efficiency air conditioner. It carries heat out of the house in summer, just as it carries it in in winter.
When you do the math, we're getting the equivalent of a new furnace, a new air conditioner (ours needed to be replaced), and a super efficient water heating system all with one new appliance. When you look at the price tag again, it's more cost effective to pay for geothermal than it is to buy each of those three items.
We also calculated that it will take about 5 years for us to make our money back in energy savings. For alternative energy systems, that's a very short payback time. Solar panels can take up to 30 years to pay for themselves.
Given those factors, it simply makes sense. Of course, I will have to pay to re-seed the lawn when they're finished drilling the wells. But I think that's a small price, don't you?
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