Residential Heating & Cooling: Economics of Converting to Geothermal*
Scenario #1:
| Location: | Albion, NY |
| Current system: | Propane furnace |
| Heated space: | 2126sf |
| Current fuel cost: | $2.14/gal |
| New heat pump model: | Geostar Sycamore 4-ton |
| Loop type: | horizontal |
| Electricity cost: | $0.093/kwh |
| Financing term: | 20 years @ 4.0% APR |
Economic Estimates:
| Out-of-pocket installation cost (after NYS rebate): | $25,662 |
| Federal tax credit: | $8,349 |
| Net system installation price: | $17,313 |
| Annual energy savings (space heating & cooling, potable water heating): | $2,019 |
| Investment payback period: | 8.6 |
| Annual cashflow if 100% financed: | $760 |
Scenario #2:
| Location: | Honeoye Falls, NY |
| Current system: | Propane furnace |
| Heated space: | 4413sf |
| Current fuel cost: | $2.40/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): | $20,025 |
| Federal tax credit: | $7,367 |
| Net system installation price: | $12,658 |
| Annual energy savings (space heating & cooling, potable water heating): | $2,598 |
| Investment payback period: | 4.9 |
| Annual cashflow if 100% financed: | $1,678 |
*Based on actual clients.
For more information or to schedule a free in-home consultation, contact Steve: 585.802.7924 or steve@LCGeo.com