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