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Originally Posted by FlyingScot
Very interesting--do you know what the payback period is for an all new geothermal system, including all the incentives? As msw notes, solar is about 6 years, I'm wondering how geothermal compares.
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I don't know Flying. We did that analysis 26 years ago when the incentives were great for a new build install. I don't recall for sure what the payback scenario was at the time but I believe it was in the 7 - 8 year range.
The geo units are much improved now too. Last night the temp got down to 5 below F and the house was a comfortable 66 degrees (what we had the stat set at) with no need for the electric back-up (I have those circuits turned off at the panel). Our older unit would have required the back-up at about 5 degrees above. Our electric bills last year were about $425 per month in January & February (4,000 SF very tight home) which, of course, includes lighting, hot water boost and appliances. That was with the older unit. Our January bill this month is $307 with the new unit and higher electric rates due to the gas supply woes in the northeast. We keep the temp at 66 night/69 day and there are only two of us in the home.