How much does it cost to use geothermal energy?

Answer 1

Geothermal heating and cooling can use the relatively constant temperature of the earth to heat and cool homes and businesses with 40% to 70% less energy than conventional systems. It also has the added benefit of providing free domestic hot water during the summer season and reduced cost for domestic hot water during the winter.

Installation for geothermal heat pumps does have a high upfront cost. There are a lot of variables--where you live, the ground to be drilled, the square foot of the house--and though everyone agrees about its high initial expense, exactly "how much" remains vague at best. A good general idea for cost would be twice the price of a regular heat pump system with air conditioning. A geothermal heat pump costs about $2,500 per ton of capacity, with the typically sized house needing a three-ton unit and putting the cost at roughly $7,500. Installation can bump the costs up to $10,000 or more depending on depth of pipes, type of equipment, and soil conditions. For much larger buildings and projects, costs can soar much higher.

Answer 2

The cost of using geothermal energy depends on various factors like location, size of the system, and depth of drilling. On average, the upfront cost of installing a geothermal heating and cooling system can range from $10,000 to $30,000 for a residential property. However, over time, geothermal energy is considered more cost-effective due to its energy efficiency and lower operational costs.