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https://dandelionenergy.com/geothermal-pricing-guide https://dandelionenergy.com/geothermal-pricing-guide They say $18,000-$25,000 after incentives for the upf

https://dandelionenergy.com/geothermal-pricing-guide https://dandelionenergy.com/geothermal-pricing-guide They say $18,000-$25,000 after incentives for the upfront cost, with annual savings of $1,600. That's still pretty expensive (even just in terms of direct payback time).

yojo 5y ago
Does anyone finance these things? 1600 against 25k is 6.4%. Seems like it wouldn’t be too hard to break even in todays rate environment.
- maxerickson 5y ago
  The This Old House video in a sibling comment to mine says that is one of the strategies the company is using (with the customer just getting a monthly bill lower than what they are paying to begin with).
Retric 5y ago
People need heating systems either way, so you want to compare additional costs vs savings not total system costs. At a minimum subtract $3,300 – $6,900 for the high efficiency gas furnace you no longer need and to install. Further the savings should generally increase with inflation. PS: Also when comparing the savings from this or other home improvements vs other investments, remember your savings are after taxes.
- maxerickson 5y ago
  Sure, you'd want to do figure out the specifics for a given situation. Their estimate of the savings is for situations where the fuel is trucked in (and thus rather expensive).
  - Retric 5y ago
    Yea geothermal can work, but solar thermal is generally the better option in northern parts of the us. They cost ~1/2 as much and generally don’t need additional energy for heating beyond some pumps. The advantages of geothermal is it’s more hidden and it can also reduce your AC bill.
lsllc 5y ago
That's optimistic. The 3 GSHP systems and one ASHP I've been involved with have been in the $50K+ range although all but one were a new build and includes the AC ductwork in the house (the other was forced hot water and involved retrofitting ducts). Tack on another $15K+ or more for the drilled well & pump (obv. not needed with ASHP). Sadly, it's kind of a boutique market and people who want these systems are often willing to pay quite a bit for them. As for the rebates, most of the installers seem to think that belongs to them, so if they're quoting $50K, that's after the rebate, despite the fact that the equipment (e.g. a 3.5 ton water furnace) isn't really that much more expensive than a higher end high-efficiency gas boiler (e.g. $5-7K ish).

yojo 5y ago

Does anyone finance these things? 1600 against 25k is 6.4%. Seems like it wouldn’t be too hard to break even in todays rate environment.

maxerickson 5y ago
The This Old House video in a sibling comment to mine says that is one of the strategies the company is using (with the customer just getting a monthly bill lower than what they are paying to begin with).

Retric 5y ago

People need heating systems either way, so you want to compare additional costs vs savings not total system costs. At a minimum subtract $3,300 – $6,900 for the high efficiency gas furnace you no longer need and to install. Further the savings should generally increase with inflation. PS: Also when comparing the savings from this or other home improvements vs other investments, remember your savings are after taxes.

maxerickson 5y ago
Sure, you'd want to do figure out the specifics for a given situation. Their estimate of the savings is for situations where the fuel is trucked in (and thus rather expensive).
- Retric 5y ago
  Yea geothermal can work, but solar thermal is generally the better option in northern parts of the us. They cost ~1/2 as much and generally don’t need additional energy for heating beyond some pumps. The advantages of geothermal is it’s more hidden and it can also reduce your AC bill.

lsllc 5y ago

That's optimistic. The 3 GSHP systems and one ASHP I've been involved with have been in the $50K+ range although all but one were a new build and includes the AC ductwork in the house (the other was forced hot water and involved retrofitting ducts). Tack on another $15K+ or more for the drilled well & pump (obv. not needed with ASHP). Sadly, it's kind of a boutique market and people who want these systems are often willing to pay quite a bit for them. As for the rebates, most of the installers seem to think that belongs to them, so if they're quoting $50K, that's after the rebate, despite the fact that the equipment (e.g. a 3.5 ton water furnace) isn't really that much more expensive than a higher end high-efficiency gas boiler (e.g. $5-7K ish).