I got three bids, they were all within a few thousand of each other. I did three options within each company for the bid process. I wanted to know what it would cost to:Curious about the geothermal system.
How many bids did you get and how far apart were they?
What is the payback time or is there a state/national incentive?
- replace two natural gas furnaces and two ac units, leave hvac ducts alone
- remove two natural gas units, change hvac ducts to one unit, and get one larger natural gas furnace/ac
- remove two natural gas units and two ac unites, change hvac ducts to one unit, change to geothermal with one larger geothermal unit
There is a federal credit and a credit from the electrical utility company. 30% of the cost of the system came as a credit from the federal govt, and so the extra cost of geothermal made it closer to the cost of not getting geothermal installed, and so it was easier to make the jump. The payoff is around 10 years I think. I'm keeping track of it to see how it goes. We aren't planning to move out of the house for many more years than 10.