Are Geothermal Systems Worth the Money?

It is simple fact that geothermal heat pumps are far more energy efficient than just about any other kind of furnace or air conditioner on the market. Geothermal units do not require as much power to do what they do, which decreases a home’s carbon footprint, and they use environmentally friendly designs to have a minimal impact upon the ecosystem. It is clear that geothermal heat pumps are a very green choice, but a more important question for most consumers is: are geothermal systems worth the money?

The short answer is: yes, but I’ll give you a more lengthy explanation to go along. The fact that a geothermal heat pump requires less energy than traditional systems is not just a green benefit. A geothermal heat pump is going to reduce your energy usage and that means you spend less money every month on your electric bill than you otherwise would. If you have a traditional air conditioner and furnace, then upgrading to even the most basic model of geothermal heat pump is going to cut your monthly bill and put money back in your pocket. Also, geothermal heat pumps are built to last for decades and since they are such a new technology we don’t actually know how long they might reasonably operate. Some are suspected to last as long as 50 years! That’s a long time you get to save money every month.

Of course, many skeptics might point out that, while it is true geothermal units do reduce a monthly energy bill, a geothermal system is also much more expensive to install. True, and that is one of the downsides of the system. Geothermal heat pumps often require extensive digging around the home to install the necessary pipes and equipment, but this isn’t always the case and some people can get off cheaper than most. Still, even those who have to do a lot of expensive installation, on average, pay back the cost of that installation in energy savings in five to ten years. And that is not an industry “fact” made up by marketing people who want to sell you a geothermal heat pump. The five to ten year payback comes straight from the US Department of Energy (if you don’t believe me you can check their website).

So, are geothermal heat pumps worth the money? Well, only if you happen to like money.