Geothermal Savings Examples
Propane heating costs in Central Indiana are some of the highest. Geothermal savings in Indiana are significant when compared to LP gas heating costs. The money you save could be considered your “earnings” on the best energy investment available. Your payback or return on investment could be better than many other investment options.
How to estimate the energy savings you will see with a geothermal heating and cooling system can get complicated. But Precision Comfort Systems prides itself in offering an accurate but very simple method of comparing heating fuels and estimating your geothermal energy savings.
From your past heating fuel bills and our knowledge about your current heating system, we can estimate how much heat you purchase each winter. The unit of heat we use is called a BTU. (A BTU is a very small amount of heat so you need several million of these BTUs each winter.) We can also tell you how much it will cost to purchase one million BTUs given a fuel type, the cost of the fuel and the efficiency of the heating system. Then it is simple to put these numbers together.
Let’s say your 2200 square foot home needs 53 million BTUs for a winter. Your 90% LP gas furnace can make one million BTUs for $24.69 if the gas cost is $2.00 per gallon. So your winter fuel bill will be 53 X $24.69 or $1309. Does this high propane bill sound familiar?
A geothermal heat pump in your home will not change the amount of heat you need. But the geo system can make (actually, move) one million BTUs for a mere $8.37 if the cost of electricity is $.10 per kWh. So now your winter heating bill is 53 X $8.37 or $444. Do a quick compare and you can see about $865 per year in geothermal energy savings for heating!
Air conditioning costs in Indiana are not as high as heating costs. Your 15 year old, 8 SEER air conditioner may use $400 each summer. But a geothermal system is capable of producing the same amount of cooling for a mere $160. That’s a savings of $240 per summer!
Total summer and winter savings combined for this scenario is estimated between $1000 and $1200 per year!
Want to do this yourself and play with many variables? Here is a very quick online tool to calculate your own personalized scenario. Simply put in your address and the tool will find your home on the map and refine your geothermal savings.
Let Precision Comfort Systems help you discover how much you are currently spending in heating and cooling and show you a personalized estimate on your geothermal energy savings from a new geothermal system.