For that kind of money, you'll get a 4-ton system, good for 48K BTU. A geothermal heating system costs $4,000 to $8,000 per ton to install on average. We can more accurately estimate your true savings with more information, including your location, current energy system, and age of the home and system. The bottom line is that when compared to traditional HVAC systems, geothermal heat pumps are the most environmentally-friendly and provide more cost-savings, a higher level of comfort . That's $7,500 as a credit on your taxes, not just a deduction. With our top-of-the-line Evolution system, Bryant Bonus and local programs, you can unearth major savings. Heat pumps for a geothermal HVAC system come in different sizes, typically sold as tons. Other companies and sources state that their geothermal systems cost in Connecticut is between $18k-$30k. That's why most will charge around $0.03 to $0.035 per kWh but will increase during peak demands, such as the summer and winter seasons. A small 2-ton heat pump system can cost around $5,000 for the pump and installation while larger 5-ton systems may run upwards of $12,000. This translates into a geothermal heat pump using one unit of electricity to move three units of heat from the earth and saving owners 25% to 70% on their utility bill. On top of that, it's not a dry heat, there's the perfect amount of humidity in the air! Because the factors are diverse, geothermal heat pump system installation can range from about $7,000 to more than $20,000. If a home requires a 3-ton unit, then it would cost about $7,500-$9,000." That's the figure these estimators give for the entire system installed. You can work out cooling as BTUs per square foot per ton or cubic feet per minute per ton. This example is a demonstration project at a university. Geothermal heat pumps will always pay you back over time. In the case of geothermal power plants, the most major expense is the installation of the equipment, with . Starting from first interest, researching, getting quotes, financing, hiring contractors and having the installation done. . The vertical ground loop system only requires a 3 ft area, and then the ability to connect the system back to the indoor unit. A cool 70 degrees all summer is costing us $25/ month! The cost of a geothermal heat pump is steep up front at $10,318 on average with some homeowners paying $30,000, but a tax credit and potential savings from geothermal energy costs can offset the geothermal system cost in 5 to 10 years. Heat Pump Only: $3,500-$7,500. "The EPA has published reports saying that geothermal is the most environmentally friendly and energy efficient system available. Cost effective and energy efficient, geothermal uses natural energy to heat and cool your home. But instead of drawing on the ambient air temperature, they use the constant temperatures below ground to shed excess heat or . The "indoor" portion The indoor portion is comprised of the heat pumpwhich will cost you anywhere from $3,500 to $7,000 depending on the modeland the accompanying ductwork modifications or installation. BENEFITS OF GEOTHERMAL Home owners who install ENERGY STAR qualified geothermal systems are eligible for a 26% tax credit on the cost of the geothermal system including all installation costs. See? Many geothermal HVAC projects are . Installing ground source heat pumps since 1993 Phone: 816-532-8334 If utility rates increase 5% per year . They give a range of $3,704 and $17,424 with an average of $10,455. Costs Associated With Geothermal Systems Depending on the type of system chosen, the initial cost can vary greatly. However, geothermal systems are far more efficient than traditional systems, so geothermal can save you much more on your monthly utility bills for the lifetime of the system. According to the US Environmental Protection Agency, "geothermal heat pumps are the most energy-efficient, environmentally clean, and cost-effective systems for heating and cooling." They're predictably low-maintenance, don't burn expensive fossil fuels, and can reduce energy bills by 65% or even more. The average cost of a geothermal heat pump system for a 2,000 square foot home in the United States is between $20,000 and $30,000. On average, a homeowner can expect total expenses to reach between $18,000 to $30,000 on geothermal heating and cooling cost. Most homeowners usually pay around $15K-$20K. The cost to install a geothermal heat pump varies by home or building size, geographic location, ground loop size, and product selection, so there is no set cost. Colorado Geothermal drilling are fantastic people! The system and installation can range from $10,000 to $40,000 depending on your soil conditions, plot size, system configuration, site accessibility and the amount of digging and drilling required. The construction of a medium-sized geothermal power plant capable of generating 500 megawatts of electricity per hour will cost around $200 million in total. $3,875 - $10,000. Geothermal System Permit Costs A geothermal system and a heat pump system have a somewhat similar price. However, the cost of geothermal systemswhether they're being retrofit to an existing structure or added to a brand-new homeremains high. The average cost of a brand-new, full geothermal heating system installation in Tennessee is between $18000 and $30000. . But what's really impressive is the level of comfort it provides. How much does a geothermal heat pump cost? 25 years to 50 years. On average, a homeowner can expect total expenses to reach between $18,000 to $30,000 on geothermal heating and cooling cost. Geothermal cooling systems work much like a traditional heat pump. The short answer to how cost is calculated is as follows: Indoor Portion + Underground Loop Field = Total System Cost. Tax credits and local rebates reduce the cost of many geothermal HVAC projects. On average, a typical home of 2500 square feet, with a heating load of 60,000 BTU and a cooling load of 60,000 BTU will cost between $20,000 to $25,000 to install. Replacing an HVAC system without new ductwork costs between $4,820 and $9,350, depending on the home's size and equipment used. We created this guide to serve homeowners interested in geothermal, whether you're just browsing, evaluating your options, or in the midst of making a decision. The cost to install a geothermal heating and cooling system varies by geographic location, loop size, home/building size, and installer so there is no clear-cut price. According to the EPA, geothermal heat pumps can reduce energy consumption -- and corresponding emissions -- up to 44% compared . If you have existing ductwork, the modifications will most likely be small. but could cost $25,000 in the same areas. The estimates for a geothermal heat pump system cost on Home Advisor are a little all over the place. According to the EPA, geothermal heat pumps can reduce . While a virtual energy consultation and site survey is the best way to get an accurate quote, the following information will get you started. Live Better . 15 years. Call us to learn more about what we can do for you. See also How Do Heat Pumps Work In Winter (Maintain Effectiveness) So once the power plant has been built, geothermal energy costs day to day are low. Complete System, Installed: $10,000-$25,000+. OCC: overnight capital cost. There's currently a 30 % US federal tax credit through 2032. Our heat bill in winter was about $60 in the coldest month for 3,000 sq feet! Hybrid Systems Present Unique Challenges The good news is, geothermal heat pumps are getting more affordable every year and some 2-3 tons heat pumps are available for as low as $1,500. Geothermal Heat Pump Price The heat pump and related components cost similar to a new furnace - about $2500 - $5000. This is around double the cost of a conventional heating, cooling, and hot water system, but geothermal heating/cooling systems can reduce utility bills by 40% to 60%. The end goal is to feel the comfort in your home - not see or hear it. If you're interested in learning how much you could save monthly, please . The hydrothermal geothermal resource potential is concentrated in the western United States. Some searches on the internet will state that a geothermal system will cost between $10,000 and $30,000. As temperatures outside increase, a traditional AC system has to work harder, creating more expense. This price range can vary widely depending on the size of your home, the type of system you choose, and the efficiency of your installation. A geothermal heat pump is the greenest, most efficient, and most cost effective heating & cooling system available. Learn more by calling 770-749-7667 or contacting Premier Indoor Comfort Systems for heating and air conditioning services in the greater Atlanta area. The key to saving money on any home heating and cooling is energy efficiency. Bryant Geothermal Systems can save you up to 70% in heating and cooling costs,* as compared to ordinary heating and cooling systems. The price can range from $30,000 to $45,000 with high-end ground-source heat pump systems for large homes. Heat pump/HVAC. The price can range from $30,000 to $45,000 with high-end ground-source heat pump systems for large homes. The primary transfer of heat occurs between the earth's crust and the water within the geothermal system. In 2022, the national average for geothermal heating installation is $12K-$30K. This technology is then used to provide your home or office with central heating and cooling. Geothermal Heating. The cost of auxiliary equipment is typically significantly lower than drilling the well field that it replaces, as shown in the Initial Costs chart. Reason #1: Saves on Energy Costs. The cost the cost to install a geothermal heat pump varies based on many factors (geography, ground composition, size of home, equipment chosen, etc.) Geothermal heating and cooling costs 25% to 65% less to run than conventional heat pumps. It's not accurate. In the case of Geothermal heating, most of the total . Geothermal works by using an underground loop system to keep your home at a consistent and comfortable temperature, by exchanging energy from your home and the earth. Although the upfront cost of geothermal may be much higher than a conventional HVAC system, Ground Source Heat Pumps are much more efficient than traditional heating and cooling systems. SAVE UP TO 80% ON YOUR ENERGY BILL 75% of energy use is generated from $3,592 - $15,578. Specific savings vary due to factors such as different house designs . Most homes will spend around $21,000 on a geothermal heat pump four-ton system. Below are some specific details about the cost benefits you are likely to see when you upgrade your system to a geothermal heat pump. Size and type of the loop system, whether your land is relatively open or heavily treed, local soil conditions and local competition for geothermal jobs are the main factors affecting cost.