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How will Geothermal Impact my Utility Bills?
Heating: Geothermal heating requires no fossil fuels. Your fossil fuel consumption for heating will be reduced to zero.
WaterFurnace units are 300% to 500% efficient. This means that a geothermal unit can provide 3.3 to 5.1 units of heat per
unit of energy consumed. This is possible because the geothermal heat pumps use power to extract heat, not to create it through
combustion. Gas furnaces that are 15 to 20 years old typically have an efficiency between 65% and 80%. A new, high-efficiency
gas furnace can achieve 90 to 92% efficiency.
Cooling: Geothermal cooling utilizes less electricity than air-to-air condensers. The cooling EER ratings for WaterFurnace heat pumps range
from 13.8 to 31.6 Btuh/watt. EER ratings for room air conditioners typically range between 8.2 and 11.0 Btu/watt. ENERGY STAR qualified central
air conditioners must have EER ratings of at least 11 Btu/watt.
Hot Water: Homeowners can expect approximately 40% to 60% of their annual hot water needs to be produced by their geothermal unit. When the
geothermal unit is operating, up to 100% of hot water needs will be met; when the unit is not operating no hot water will be generated and a
conventional water heating source is used.
The following table provides an estimate of annual heating and cooling costs for a typical home in New England.
|
Size of House
|
Estimated annual residential heating
and cooling costs plus hot water
|
| Heating (forced hot air) |
Oil Furnace |
Geothermal |
| Central Air Conditioning |
Outdoor Condenser |
Geothermal |
| Hot Water |
Electric |
Electric with Geo-assist |
| 1,500 sq. ft. |
$2,900 to $3,100 |
$1,500 to $1,800 |
| 2,500 sq. ft. |
$3,200 to $3,900 |
$1,800 to $2,200 |
| 4,000 sq. ft. |
$3,600 to $4,700 |
$2,200 to $2,600 |
| 6,000 sq. ft. |
$4,400 to $5,500 |
$2,600 to $3,000
|
| 8,000 sq. ft. |
$5,000 to $6,100 |
$3,000 to $3,800 |
Assumptions: Electricity = $0.18/kWh; Oil = $2.50/gallon; Nat. Gas = $1.70/ccf
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