Myth 1: Geothermal is only for the 1%.
Fact: While geothermal heating and cooling systems do typically cost more upfront than a conventional HVAC system, they are much more energy and cost efficient in the long run – and the savings begin immediately. Geothermal systems also qualify for a 30% Federal Tax Credit on installation costs (including landscaping).
To get an accurate comparison of costs, you should consider the following:
- An existing 30% Federal Tax Credit reduces the upfront install cost of geothermal.
- Payback (how long it takes to recover the difference in costs between a geothermal and conventional system) usually takes only 3-5 years.
- The increased energy-efficiency of a geothermal system means you will see more money in your pocket every month as soon as it is installed. In some cases, a geothermal system can reduce a home’s heating, cooling and hot water costs by up to 80%!
Myth 2: Geothermal won’t work in my climate.
Fact: No matter where you live, the earth remains at a constant, moderate temperature all year-round just 6-10 feet underground. The main limiting factor for a geothermal system is the soil type found on your land, not the outdoor temperatures.
Myth 3: You have to have at least one acre of property to install geothermal.
Fact: The use of vertical earth loops make a geothermal system feasible for homes on smaller lots. As long as the right soil conditions exist on your property and a drilling rig has access to drill the loop field, a geothermal system is an option for you.
Myth 4: Geothermal can’t be installed in an existing home.
Fact: Geothermal systems are installed in existing homes all the time. ClimateMaster manufactures split geothermal systems designed specifically for retrofit applications in which indoor space may be at a minimum.
Myth 5: Geothermal is a hassle to maintain.
Fact: Since they have less components exposed to outdoor elements, geothermal systems typically last longer and require much less maintenance than conventional systems. Just like a conventional system, standard regular maintenance is as simple as changing out the air filter.