How much monthly payment reduction can be expected by installing geothermal system if I replace my current system?
The payback calculation should be based on the differences of investment between updating to a conventional heating and cooling system or a Geobattery system installation. The following is a projection of monthly savings with no consideration of conventional system cost. The differences in heating and cooling bills are based on the size of the heating and cooling load and types of conventional heating and cooling system. Consider the following: 2000 Sq Ft house – Heating and Cooling Cost of $300.00 a month With GeoBattery system – Heating and Cooling Cost of $100.00 a month Savings of $200.00 a month. Installation of conventional Geothermal 3-4 ton system (usually corresponding to 2000 sq. house) would require $20,000-$40,000. Noble geofurnace GeoBattery further reduced geothermal installation cost to nearly 1/2 to 2/3 of conventional geothermal system installation. Considering current equity line interest rates of 6-7% and also considering an approximate 30% Federal tax deduction on H
