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Is geothermal worth it? (And some Other questions)
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crank
- Newbie
- Posts: 8
- Joined: Sep 16th, 2013, 8:29 am
Is geothermal worth it? (And some Other questions)
We are looking at a house in black mountain, and it has geothermal heating. Is it really worth it? There is a monthly "loop fee" and a $1600+ connection fee. How much extra would a person pay for natural gas? I'm not up on geothermal.
Black mountain is a decent area? It looks great although I'm coming from flat land so that should make it interesting.
Insurance providers for auto and home, is it all controlled by ICBC still?
Black mountain is a decent area? It looks great although I'm coming from flat land so that should make it interesting.
Insurance providers for auto and home, is it all controlled by ICBC still?
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TylerM4
- Lord of the Board
- Posts: 4371
- Joined: Feb 27th, 2014, 3:22 pm
Re: Is geothermal worth it? (And some Other questions)
Hard to answer your question without more details.
Sounds like the neighborhood/development you live in has a community Geothermal plant/system? If that's the case, it MAY be worth it - would need a lot more information about the situation.
Generally - geothermal will not pay for itself in a single family home setting. You'll never save enough money in heating and cooling costs to pay for the additional upfront costs. Especially in a retrofit scenario.
As it sits now, going to an air-source heat pump (less efficient but WAY less expensive to install) only just pays for itself at the 15-20 year mark...right about when it's at the end of it's life and needs to be replaced anyway.
Perhaps things will change. But with the current market(lack of current rebates, cost of gas and electricity, etc) your best "Lowest Total overall cost" option is a regular high efficiency furnace and central AC unit.
Now.. if you are motivated by more than just cost (energy savings, being green, etc) then it may be worth it to you, but only you could make that decision.
Sounds like the neighborhood/development you live in has a community Geothermal plant/system? If that's the case, it MAY be worth it - would need a lot more information about the situation.
Generally - geothermal will not pay for itself in a single family home setting. You'll never save enough money in heating and cooling costs to pay for the additional upfront costs. Especially in a retrofit scenario.
As it sits now, going to an air-source heat pump (less efficient but WAY less expensive to install) only just pays for itself at the 15-20 year mark...right about when it's at the end of it's life and needs to be replaced anyway.
Perhaps things will change. But with the current market(lack of current rebates, cost of gas and electricity, etc) your best "Lowest Total overall cost" option is a regular high efficiency furnace and central AC unit.
Now.. if you are motivated by more than just cost (energy savings, being green, etc) then it may be worth it to you, but only you could make that decision.