Although geothermal is known to be an “eco-friendly” way to reduce pollution, what is in fact the cost of the system? The cost of geothermal is mainly dependent on four factors: the size of the building/house, the size of the heat pumps, the size of the loop field, and lastly the usability of the current ductwork.
The size of the building is a rather important factor regarding the cost of the system. Why? Well, look at it like this. The heating that a building of 2000 square feet would require a lot less heat compare to a building of 6000 square feet. However the insulation of the building also affects the cost of the geothermal system. Imagine living in a cardboard house compare to an appropriately insulated house.
When all the calculation such as the amount of heating and cooling which are needed is established, it let’s the workers determine the exact size of the heat pumps. Logically a larger heat pump would require a higher price compared to a smaller heat pump.
The loop field also affect the pricing of geothermal due to the varied pricing for the quantity of pipes needed underground. The climate and the size of the system will dictate the total of pipes involved in the process. However, the prices are also determined by the quality of the ground, the price of fuel, and if the contractors are available. Nevertheless, the main factors which affects the pricing of the loop field is the size of the system which affects the amount of pipes needed thus, enlarging the dimensions for the ground needed. Lastly, a contracter would usually establish the price per foot.
For the most part the usability of your current duct work is not a large factor. However if your current ductwork is not suitable for the geothermal system then, changing the ductwork would be a necessary procedure. However, regardless of making your ductwork compatible to the geothermal system, the ductwork itself has to be able to function properly according to the HVAC (heating, ventilation, and air condition system) systems.
For the most part,the total cost of a geothermal system for a small house is usually $20,000-25,000. Also, this pricing depends if you use a small-scale commercial use of heating and cooling.
In British Columbia, the price that you pay for Geothermal monthly is around 3.3-3.9 US cents per kWh (unit of measurable energy which appears on your electricity bills). If you were trying to compare the prices of geothermal system to other large-scale forms of energy, you would find that geothermal is actually the cheapest to use. For example, I take around 5.0-6.4 US cents for wind energy. According to BC Hydro, the average household uses 11,000 kWh per year. So, you pay, per year, around 36300-43900 dollars.
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