What is the Return on Investment for Geothermal Energy?

Residential geothermal energy has been in use ever since the 1940s, but it has only recently begun to garner widespread attention. Homes all over the country are starting to realize that it is one of the most energy-efficient solutions today. As of now, there are over 1 million geothermal heat pumps already in use. If you need hot water and stable air conditioning/heating in your home, then you can’t go wrong with geothermal heating. Of course, the main question is whether you’ll save money with it.

Residential Geothermal Energy Requires Low Operating Costs

According to the official government page Energy.gov, geothermal systems are 300 to 600 percent more efficient in comparison to air-source pumps used in regular HVAC systems. This means you’re getting all of the heating required without consuming as much electricity. In fact, a report from National Geographic states that it only requires one unit of electricity to transfer up to five units of energy. This low operating cost is one of the biggest benefits in getting geothermal cooling in Ames, IA.

Incredibly High Return on Interest

residential geothermal energyHow much are your current utility bills? Would you believe that in less than a year, you could cut those costs down by half? You will also see your investment return within three years. As pointed out by the official Energy page, energy costs are cut down by 30 percent to 70 percent. But that’s not all. The government also gives out federal tax incentives. According to National Geographic, tax incentives go up to 60 percent of the system cost. In other words, you’re rewarded for choosing an energy resource that is good for the planet and cheap on utility costs.

Longer Lifespan and Lower Maintenance

Geothermal systems are located underground, which, in turn, means you don’t necessarily have to spend thousands of dollars on costly repairs. Maintenance will be cut down, saving you 60 percent of what you normally spend for repairs on conventional heat pumps and HVAC systems. It also has a longer lifespan. Geothermal energy systems tend to last 15 to 20 years with minimal maintenance. A regular HVAC system will last seven to 10 years. After that, you’ll need to replace it.

Since they are underground, they are also very quiet. Therefore, you won’t have to worry about the constant mechanical buzz as the system heats up.

Call Neighbors today for all your geothermal heating and cooling needs! We are experts in heating, cooling, plumbing, geothermal and radon systems and service all major brands. Contact us today!