How Much Money does Geothermal Cooling Save?Published on: May 8, 2013
What is Geothermal Energy?
The Department of Energy estimates that heating and cooling costs account for over 50 percent of the typical homeowner’s utility bill. As more people look for ways to cut costs and save energy, there has been an increased focus on using geothermal power for heating and cooling. By tapping into the earth’s renewable energy, you can reduce your dependence on electricity and fossil fuel, and you can also save a significant amount of money on your utility bills.
How Does Ground-Source Cooling Work?
Ground-source cooling works by taking advantage of the stable temperatures beneath the earth’s surface. Unlike the fluctuating temperatures above ground, temperatures below ground level are constant and typically range from 45 degrees to 75 degrees. Like the environment inside a cave or cellar, the temperatures below ground are warmer in the winter and cooler in the summer. Unlike standard heat pumps, which use ambient air for heat exchange, ground-source heat pumps extract the warm air from inside your home and funnel it deep within the cool soil. The cooled air is then returned back to your home.
Because this type of unit relies on natural power to reduce the air temperature, it is extremely energy efficient. In fact, you can reduce your energy consumption by as much as 40 percent. In addition to saving energy, you will also be able to save money.
How Much Money Does Geothermal Cooling Save?
During a typical summer in the Southeast, most HVAC systems are constantly being used, and it can be challenging to cut cooling costs and still remain comfortable. Although an initial investment is required, geothermal cooling can ultimately save you a sizeable amount of money by:
- Lowering Your Utility Bills- You may be able to lower your utility bills by as much as 50 percent and still have a comfortable home environment. Not only will you save money every month, but you may also be able to see a return on your initial costs in approximately five years.
- Allowing You to Qualify for Rebates- In addition to reducing your utility costs, you may be able to qualify for federal tax credits and rebates. You can also check with your local utility company to see if additional incentives are available. If your utility company does offer incentives, you may be able to significantly reduce your installation costs.
- Lasting Longer- Because ground-source cooling systems last much longer than traditional HVAC systems, you won’t have to spend as much money on repairs, and you don’t have to think about replacement costs for a long time.
If you are interested in learning more about ground-source power, your local AC Southeast® dealer can answer your questions and can assist you in making an informed decision on ground-source cooling.