When you’re investing in new heating and cooling equipment
for your home, one of the deciding factors will probably be cost. The cost of
installation and energy is a top concern for many homeowners. Before choosing a
ground source heat pump, you’ll want to know all the costs associated with
installation and operation.
The cost of installing a ground source heat pump will vary
from site to site. Different homes have different needs, varying heating and
cooling loads, and type of earth loop available to the site, which will all
factor into the final price. The heating and cooling loads can be effected by
the size of the house and how well it is insulated. The yard size will
determine whether a horizontal or vertical
earth loop can be installed. An open loop earth loop will new special township
or county approval.
The federal government as well as many state and local
programs offer incentives which can cut down the cost of installing a ground
source heat pump for homeowners. With the federal tax credit alone, you may be
eligible to receive up to 30 percent of the cost of installation back. Don’t
count on these incentives unless you meet the qualifications. It’s best to call
and verify your installation will be eligible before installing to avoid any
surprises later.
Homeowners can also estimate how much it will cost to operate their new ground source heat pump ahead of time. Consider your home’s heating and cooling demand, and the efficiency of the ground source heat pump you’ll be installing. If you need help determining operation costs or your payback period, or to learn more about installing a ground source heat pump for your home, contact Smith Sustainable Design today.