Taking my "plunge" down under...

[Smart Red]

Geothermal can also be installed as radiant heat under flooring in a house. We already have forced air so our new system will be forced air to use the same ductwork. It would work with hot water heat as well. It all depends upon your current set up or construction plans.

I simply like the idea of having heat, AC and hot water for no more than the cost of running a new energy efficient refrigerator each month. Yes, the initial cost is high, but it is an investment for the future (and DS) as well. No more $300-$400 fuel oil bills every month for the winter AND lower electricity bills from the geo hot water system. Our payback for this system should be 5-7 years. After that, it is mostly free energy.

 

[catjac1975]

Is this process done with electricity? We have the highest electric rates in the US. They just went up a whopping 33%. Were are considering solar with one of those companies where you rent their equipment. Sounds like win/win----for them.

 

[Smart Red]

Is this process done with electricity? We have the highest electric rates in the US. They just went up a whopping 33%. Were are considering solar with one of those companies where you rent their equipment. Sounds like win/win----for them.

The furnace and blower require electricity already. We don't have natural gas out here, so water heater, range, and oven are all electric. To this, fuel oil is an added expense. For the cost of the electricity to run a new fridge, the hot water and heat are both taken care of.

Besides the rebate from the power company for the new system, we are going on a reduced rate with them for off hours usage.

 

[seedcorn]

If u get it paid back in 7 years, that will be good. Your electric bill will go up.

Geothermal 72 degrees is not same as 72 degrees from oil, wood, gas. At least to the body. Friends of mine turned theirs up to 80 degrees. I know 72 is 72. Another friend of mine LOVES their system-actually both do.

We went with heat pump because of pay out system length. According to REMC electric, geothermal was 10-12 payout.

 

[baymule]

Those big trucks look like a beautiful thing...... I know you will be so glad to scrap your old furnace and say HELLO to the new. I am so happy for you that you are finally getting this system installed!

 

[catjac1975]

The furnace and blower require electricity already. We don't have natural gas out here, so water heater, range, and oven are all electric. To this, fuel oil is an added expense. For the cost of the electricity to run a new fridge, the hot water and heat are both taken care of.

Besides the rebate from the power company for the new system, we are going on a reduced rate with them for off hours usage.

So is the rebate from the power company from the government's energy credits? Is that local to you or a federal program?

 

[Smart Red]

Federal is 30% of total costs back in tax credits -- until 2016. State has some energy credit funding as well. The Public Utilities have their own program for energy saving -- 5 Star program (I think) -- that rewards homeowners for the extra expense of purchasing energy saving items.

Geothermal is still an expensive system at start up, but with all the available incentives and quick payback for us, it isn't as big an expense as it looks at first glance.

$30,000 - 30% ($9,000) - a new furnace ($8,000) - a few other financial state and utility incentives = $17,000 off the original price. Added to that is a $10,000 tax return we hadn't expected. For us that leaves about $3,000 in actual out of pocket costs for us. Not a bad price over getting a new conventional oil furnace.

Of course, that unanticipated $10,000 is also our money, but I am not counting what we didn't expect to get in the first place. If I do count it, that makes $13,000 of our money for a pay back of less than 8.7 years (at current prices) depending upon how much electricity we save in using geothermal for heating our water.

 

[seedcorn]

Interesting as 2 years ago, we were told federal help stopped. Although price of system was about same cheaper than when federal taken away. Too late for us now.

 

[bobm]

I installed a hydronic heating system when I built our farm house. The propane 30,000 BTU water heater cost $7,000 and the heat exhange unit about $ 3,000 ( expected life of 30 years). It cost us about $45 a month to heat our 3035 sq. ft. home. Then a few years ago at the county fair, I met a solar company that touted to cut our utility bill in half... they sent out a guy to give us a quote for our particular location and power needs and how much we are to save AND how much the electric company would pay us to sell the excess electricity if any. Our house faces due South, so IDEAL to produce electricity. Quate of $ 38,000 with a $8,000 in rebates, so $30,000 up front to be financed which to us meant $200/ month in interest alone. I checked out further on the solar panels and found out that they have a effective productive life span of 7 years after which the output of electricity really drops off. So the panels would have to be replaced to restore production efficiency on average of every 7 years for peak performance. You do the math as to what it would really cost me vs. a hydronic system or anyone's more conventional heating units.

 

[Smart Red]

Yup, @bobm! Solar sounds so good, but it really needs a bit more time for technology to improve it. I've been watching it for many years waiting for improvements. Passive solar ideas work pretty well where the conditions are right.

Guy up the road has solar panels -- even has a windmill -- and, I suspect geothermal heating from his spring-fed pond. That windmill has been down for repairs far more than it has been working. I'd wait for some better technology there as well. Another energy system I've been watching since we have a breeze here almost all the time.