I did some blog searching out of curiosity and there are a few common misconceptions on geothermal systems for residential homes. Often, the most common perspectives focus on the economics. It is important when pricing a geothermal system to understand that any conventional HVAC system also has associated costs - they are not free, but built in to the costs of your home when purchased. As a made up example, a geothermal system (ground loop, heat pump, desuperheater, and so forth) may cost you $16,000 to put in to a small home. At the same time your conventional forced air gas furnace system may cost you $8000. So it is the difference in the costs that are the important economics to consider when figuring out the payback period and so forth.
Also keep in mind there are many externalities (benefits) associated with geothermal systems that are difficult to put a dollar value on. They include:
- greenhouse gas reduction
- safe (no combustion)
- improved air quality
- quiet operation