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How Much Will it Cost?

• Heating and cooling a home for a few hundred dollars a year as opposed to thousands is a fair statement when referring to residential geothermal installation.

• As a rule of thumb, a geothermal heat pump system for new construction, including the loops, is around $5000 per ton. A geothermal heat pump system for an existing home, including the loops, is around $3500 per ton.

• Before writing off geothermal as “not for me” and “unaffordable” consider this: Most homeowners can expect to recoup their investment through lower utility bills in 4-8 years and possibly sooner, due to the current 30% tax credit offered by the US government for geothermal equipment and loop installation.

• 30% Tax Savings example: the taxpayer spending $15,000 to install a new geothermal heat pump and loop would get a $4,500 tax CREDIT (not a tax deduction) that can be used to offset both regular income taxes and alternative minimum taxes. Delaware and Maryland also offer their individual State rebates for installing geothermal heating and cooling.

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