Frequently Asked Questions
What does geothermal cost?
The cost of installing a Geothermal Heating and Cooling System largely depends on the size of the space being conditioned and how well it is insulated. As a general rule of thumb, if you were going to replace your boiler/furnace and central air conditioning system, the cost of geothermal would be approximately 1.4 times that of the conventional system, assuming the system qualifies for the 30% tax credit.
What kind of payback can I expect?
Typical returns for the incremental portion of the heating and cooling expenses related to geothermal projects are about 10 - 20% ROI after tax, which makes geothermal benefits very attractive compared to other investments.
Can geothermal systems be installed during the winter?
Yes. As long as the ground can be dug and the frost line is not too deep, Geothermal systems can generally be installed during the winter on days when outside temperatures are not excessively cold. Landscape that is disturbed during the installation process can be reseeded in the spring.
How do I know if my site is suitable for geothermal?
The State of CT requires setbacks of 25 ft. from a water well producing less than 10 gallons per minute, 50 ft. for wells producing more than 10 GPM, 25 ft. from septic tanks, 50 ft. from leaching fields, and 10 ft. from foundation drains or any other source of surface water pollution. If wetlands exist on the property, setback requirements from the local Wetlands commission have to be met.
Is financing available?
Yes. If geothermal is going into new construction or a major addition, the cost can be financed through a mortgage which typically is a lower after tax cost than the extra operating costs associated with a conventional heating and cooling system.
Are there any tax incentives?
As part of the American Recovery and Reinvestment Act of 2009, the United States federal government has approved a 30% tax credit for homeowners installing a qualified geothermal system. Unlike prior legislation, there is no maximum credit amount. There truly has never been a better time to install a GeoComfort geothermal heating and cooling system.
