If you were given the choice of burning money or saving money,which would you choose? The question may sound crazy, but that’s what each homeowner faces when deciding whether or not to invest in Geothermal.
Because a Geothermal system tends to have a higher installation cost than most conventional systems, many homeowners view it as an expensive system. But this is only half of the picture. As a homeowner, consider more than the initial investment when purchasing a new system: consider the monthly energy costs and the annual maintenance costs. You may find that a fossil fuel furnace will cause you to burn money rather than save it, and a conventional air conditioner will cause you to waste energy rather than conserve it. When selecting a system, always consider the payback, efficiency, cash flow, operating costs and system life-span.
System payback is how long it takes to recover in energy savings the difference in the costs between geothermal and conventional systems. On average, the initial cost of installing a geothermal system can be recovered within three to five years. A WaterFurnace dealer or electric utility representative can help you figure your payback on a geothermal investment. Because geothermal systems deliver three or four units of energy to the home for every unit of electrical energy used to power the system, they rank first in energy efficiency and long-term operational savings.
Geothermal systems can be used in new and retrofit applications, but as a new home buyer, you are an especially good candidate for a geothermal system. The initial cost of the geothermal system can usually be tied into your monthly mortgage payment, because you are already making a long-term investment in new construction. The monthly savings from the system easily covers the additional amount added to your mortgage payment, so you are creating a positive cash flow right away!
Another consideration is total heating, cooling and domestic hot water operating costs. The geothermal system is the total comfort system with the lowest overall cost. With most conventional systems, overall operating costs are based on the efficiency of more than one system - a fossil fuel furnace, central air conditioner and a water heater. A geothermal system can provide all operations such as geothermal cooling, heating and more, ensuring that efficiency and savings are achieved in all areas. Geothermal cooling can be the difference that not only keeps you cool this summer, but also saving money in the long run. In addition, system maintenance and lifespan should not be overlooked. For instance, conventional systems frequently require regular maintenance for each unit - the furnace, the air conditioner and the water heater. However, a WaterFurnace Geothermal system requires little or no maintenance beyond periodic checks and filter changes.
When faced with the purchase of a new heating, cooling and water heating system, you have two choices: either burn money with a conventional system or save it with a geothermal system. You may find the cost of a geothermal system is just a phone call away!
Contact Nottawasaga Mechanical today for a Geothermal Energy System consultation.