The cost of installation for both a new central air conditioner and furnace varies between around six thousand dollars up to twelve thousand.
The average expense for installing a geothermal heat pump can be anywhere from eighteen thousand dollars to forty-five thousand.
However, there are tax credits and incentives available for investing into geothermal heating and cooling. Plus, this type of system achieves a 400% efficiency rating and can cut the annual cost of indoor temperature control by up to 50%. In most situations, a geothermal heat pump saves enough money on utility bills to pay for itself in under five years. There is the added opportunity for virtually free hot water as well. The advantage of a geothermal system is that it makes use of the free and renewable energy found underground. The earth absorbs heat from the sun and remains at a constant temperature all year round. The underground loop system of a geothermal heat pump works to transfer this heat into the house during the winter. In the summer, the system pulls heat from the house and delivers it into the ground. The process eliminates the burning of fossil fuels and creation of greenhouse gasses. Geothermal heat pumps are the most environmentally responsible choice on the current market. They are excellent at filtering out air contaminants, handling excess humidity in cooling mode and not requiring the addition of a humidifier during heating mode. Operation is especially clean and quiet, and because of few moving parts, the system requires only minimal maintenance. Geothermal systems also offer an incredible long service life. The underground loop includes a 50-year warranty and can last twice that long. The heat pump is installed inside, protected from the elements, and with regular maintenance should last upwards of twenty years.
Air purification help