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