Geothermal Heating Costs
How Much is a Geothermal Heating and Cooling System?
There are many types of loop systems for geothermal heating. For closed-loop systems, there are vertical and horizontal. There is also an open-loop system. Its price varies on the type of geothermal heating system you want. An average geothermal heating system will cost anywhere from $20,000 to over $25,000.
Vertical loop systems are the cheaper option at around $30-35 per square foot. This number may seem high, but it’s because you’re paying for almost all of the parts up front and installing them yourself or hiring a contractor to do so.
Is Geothermal Heating and Cooling Worth It?
The installation costs are usually lower in new homes. Still, geothermal, even with all of its advantages, can be up to 40 percent more expensive than an HVAC system. Depending on the utility rates and the installer’s price, these costs can be recouped in just four or fifteen years.
You need to determine the size of the project to determine whether a geothermal HVAC system is worthwhile. No geothermal system is cheap to install, and because the return on investment is only attainable in large buildings, there’s no real financial incentive to buy it for small homeowners. Geothermal is, therefore, more suitable for projects of moderate or substantial size unless you have a sizeable home that is well-equipped for a geothermal HVAC installation.
Feel free to reach out to us on our hotline if you want to learn more about geothermal HVAC systems and whether they fit into your home.