What is a Geothermal Heating and CoolingSystem and How Much does it Cost on Long Island?
When it comes to heating and cooling your home, most homeowners go with traditional systems that use oil, gas, or electricityas the primary energy source. But for some homeowners, reducing their carbon footprint is essential. That and the rising cost of utilities on Long Island may have some of you wondering what other energy sources are available?
By comparing the initial investment to the long-term energy savings and government incentives, you should have a balanced perspective on whether geothermal systems are financially viable. Hopefully, this will answer the most important question - is it worth doing from an investment standpoint?
A Geothermal system is similar totraditional HVAC in some ways inside the home. Insulated duct work and supplies are installed, but here are some major differences:
A Geothermal system is similar totraditional HVAC in some ways inside the home. Insulated duct work and supplies are installed, but here are some major differences:
Geothermal systems require the installation of several hundred feet of pipes to be buried below the ground! To keep it simple, a geothermal system uses the constant temperature of the earth (54 degrees Fahrenheit on Long Island) to heat and cool your home. If you’re wondering how this works, picture a closed loop that circulates food grade propylene glycol. In the winter, heat is exchanged between the pipes and warmer temperature of the earth (54 degrees). The solution is circulated back into the home and is used to heat the house. In the summer, the process is reversed.
The geothermal loops can be run horizontally several feet below the frost line. But, this requires a lot of surface area, something Long Island properties typically don’t have. A more common way on Long Island is to run vertical pipes hundreds of feet under the ground to create a closed loop system. With the use of a well driller, we dig down about 300 feet then install the pipes.
Finally, what is the cost to do all this? You can expect to spend anywhere from$50,000 to $100,000 or more depending on size and scope to supply a geothermal system om LongIsland. The good thing is there are rebates and tax credits available to homeowners to help offset some of these costs. These rebates and credits make it comparable to the costof a traditional HVAC system.
Here’s a Real Example: We recently installed a geothermal heating and cooling system on a 4,600 square foot home in Port Washington, Long Island, New York.
- The cost for the geothermal unit, well drilling, zoning, plumbing and electrical work involved was $120,000.
- PSEG provided $12,000 in rebates and
- There is a 30% Federal tax credit which equates to about $38,000.
- There is also a New York State tax credit of $5,000.
The approximate net cost of the geothermal system came to about $65,0000. In comparison, we estimated the total for an Electric Heat Pump System to be $69,000with a PSEG rebate of $10,000. The net cost for this system would be $59,000. At the end of the day, the actual cost of the geothermal system was very similar to the traditional HVAC system using electric heat pumps.
Want to know more about geothermal systems?
Check out our You Tube video here: https://www.youtube.com/watch?v=dR4Lg28QhYE