So, What Does It Cost?

To replace a traditional Heating and Cooling System with an Energy Efficient Geothermal Heating and Cooling System in a 2,000 square foot home, consider the following economics:

 

Typical Installation Equipment and Supplies:

  • 3 ton Geothermal Heat Pump Unit
  • Auxiliary Heater
  • Flow Center Pump Station
  • Hot Water Storage Tank
  • Thermostat
  • Air Duct Connections
  • Piping
  • Electrical Wiring
  Material Cost $12,500.00
  Installation Labor $ 7,000.00
  Geo Ground Loop $12,000.00
  Heat Exchanger  
  TOTAL COST $31,500.00
Available Incentives:  
  • Connecticut Clean Energy Fund Rebate
    • $1,200 per ton up to 6 tons or $7,200
 ($3,600.00)
  • Utility Company Geothermal Rebate
 ($1,500.00)
  • 30% Federal Tax Credit Incentive
    • Available through 2016
 ($7,920.00)
   
TOTAL COST AFTER INCENTIVES
 $18,480.00
   
Average Cost of Traditional Replacement System $12,000.00
Net Additional Cost for Energy Efficient Geothermal Heating and Cooling System $ 6,480.00
Annual Estimated Energy Savings with an Energy Efficient Geothermal System ($1,200.00)
Return on Investment   —————————————————————————> 5.4 Years