We are looking to install a Geothermal heat/cooling system in our two year old modular home. The system is estimated to cost us in excess of $20000.
We now heat our 2800 sq ft. home with forced air gas. Our high gas bill was $240 month (not too bad) but gas prices may increase to over 70% more. According to the installer we should almost eliminate our monthly gas bill. The electric bill should rise slightly. We still would need some gas for the dryer and stove. Hot water can be produced by the geothermal heat pump.

I am in a delema as I will be retiring in 9 years and would like to be debt free.
Your experience and expertise with these systems would be appreciated.
There are some gov incentives, such as paying 4% of a loan (NYS).

Thank you
Kevin

I would ask for some references. I am very skeptical of the low electrical bill. Electricity will be going up too. What is the source of water, a well or circulating water through coils in the ground? Well based systems have problems with scale. They can also drop the water table.

Hi,
I cannot give you any Professional advice, since I am not a professional in this area.
Here is a link with some good explanations of the different types:

http://ths.gardenweb.com/forums/load...804219684.html

I would, however, suggest getting at least 3 estimates, and the above link gives some good questions to ask while getting the estimates. If I were going to spend that kind of money, I would definitely want more than just 2 estimates.
Also, if you borrow $20,000 and want to pay it back over 9 years, your savings would have to be at least $2,222 a year, not counting interest on a loan. I do wish you the best of luck, and you can find a lot of information about this type of system on the web.

Thanks for the replies.
Labman, the system would be of the well type, three or four holes 300 ft deep. The contractor is well known and respected in the area and has done work for us on our well. I will get additional estimates but I don't know of their reputations in the area. As I stated there will be an increase in our electric bill. This week they are doing an heat loss analysis study of our home and should be able to give us exact price for the cost of installation as well as the amount our fuel usage will decrease.
Fredq,
Thanks for the link. It's a tough call, gas prices could increase this winter 70% and after 9 years the real savings will be seen. But your right the $2200 + per year is a large payment.

Fred brought up a good point on the money. Money in the bank doesn't lime up or blow a circuit board. When I was an industrial manager, not only did I have to show a project would save money, it had to produce a better payback than money in the bank. Depending on the quality of the water, those systems can have large maintenance problems. I would want to see the figures from similar systems in the area. And what about your well? Is this a once through system, or does it recirculate?

You might do better to take the energy analysis, and invest in tightening up the house, insulation, caulk, etc. even new windows.

It would be 3 or 4 holes with a manufold connecting them and two lines (inandout) to the house. So it would be recirulated. The house is only two years old so it is well insulated with great windows.
Thanks

Quote:

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Originally Posted by labman

Fred brought up a good point on the money. Money in the bank doesn't lime up or blow a circuit board. When I was an industrial manager, not only did I have to show a project would save money, it had to produce a better payback than money in the bank. Depending on the quality of the water, those systems can have large maintenance problems. I would want to see the figures from similar systems in the area. and what about your well? Is this a once through system, or does it recirculate?

You might do better to take the energy analysis, and invest in tightening up the house, insulation, caulk, etc., even new windows.

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like labman said... make sure you see all the numbers... even if you like the final result there will be malfunction products defect or worst after you paid it all off the company won't answer you call

if you do not save hundreds every year I would not change the heating system. Is the price of gas really going up 70 percent. Maybe over 20 years or? Right now goe thermal heat pumps are new and expensive, maybe in 5 years they will be a better value and you could see how much gas goes up. I have a 20 year old furnace and am looking into installing something myself.