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Costs
and Payback of Heat Pumps Systems?
Heat pumps initial investment
Ground-source heat pumps initial cost
is higher than classic gas or electric systems and air-source
heat pumps. A typical medium-small system may cost you around
around $7,500 - $12,000 (often twice the price of an air-source
heat pump).
The competitiveness of heat pumps depends on the electricity
savings they allow.
See for details and comparisons:
Is a Heat Pump System suitable for my
home
Heat pumps versus air conditioners
Ground-source (geothermal) heat pumps: costs and payback
Ground-source
heat pumps can save something as 30 to 70 percent
on heating and 20 to 50 percent on cooling costs over
conventional systems. That represents, according to studies
conducted by Geothermal
Heat Pumps Consortium (based on installers and builders
reports), annual savings between $358 and $1,475.
Supposing an
average saving of $1,000... and since average
ground-source heat pumps costs
are
around $7,000 - $12,000 for a typically three-ton
unit, that means a payback period around 7 to 12 years (without
considering heat pump rebates and tax incentives, that may lower
significantly that payback).
However, you may also take into account your particular needs
and consumption, or variables as the prevalent energy source in
your region or state. Gas powered equipments have typically
lower operational costs, which may turn heat pump systems a
non-economical option comparatively to them.
See, namely: Is a Heat Pump System
suitable for my home
Air-source heat pumps costs and
payback
Once the average initial investment of an air-source heat pump
is lower than that of a geothermal heat pump ($3,000 - $4,000...),
the recovery of the the investment is usually shorter than that
of ground-heat pumps: often around 4-5 years.
But these are just references, that can be offset by
several other factors: your energy
consumption, the type of energy you are using (electricity,
gas or other), local finance incentives and tax credits...
See: Finance Incentives for Heat
Pumps Systems and Is a Heat
Pump System suitable for my home
See also:
Basics of Heat Pumps Systems
The buying process for heat
pumps
Installation of
Ground-Source Pumps
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Costs And Payback of Heat Pump Systems
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