Residential Heating & Cooling: Economics of Converting to Geothermal*

Scenario #1:

Location:Geneseo, NY
Current system:Oil boiler, no a/c
Heated space:2974sf
Current fuel cost:$3.20/gal
New heat pump model:Geostar Aston 6-ton
Loop type:Horizontal slinky
Electricity cost:$0.093/kwh
Financing term:20 years @ 4.0% APR

Economic Estimates:

Out-of-pocket installation cost (after NYS rebate):$19,831
Federal tax credit:$7317
Net system installation price:$12,514
Annual energy savings (space heating & cooling, potable hot water heating):$2,785
Investment payback period:4.5
Annual cashflow if 100% financed:$1,875

Scenario #2:

Location:Holley, NY
Current system:Oil boiler, no a/c
Heated space:2974sf
Current fuel cost:$3.20/gal
New heat pump model:Geostar Aston 3-ton
Loop type:Horizontal standard
Electricity cost:$0.093/kwh
Financing term:20 years @ 4.0% APR

Economic Estimates:

Out-of-pocket installation cost (after NYS rebate):$21,616
Federal tax credit:$6,732
Net system installation price:$14,884
Annual energy savings (space heating & cooling, potable hot water heating):$1,522
Investment payback period:9.8
Annual cashflow if 100% financed:$440

*Based on actual clients.

For more information or to schedule a free in-home consultation, contact Steve: 585.802.7924 or steve@LCGeo.com