2 Critical Panama City Geothermal Heating and Cooling Considerations

1.     Up-Front Costs vs. ROI

You can’t get around it: replacing your present HVAC system with a geothermal heating and cooling system is a pricy proposition. Front-end costs here in Panama City tend to run anywhere from $10,000 to $30,000 – or higher. Lot size, site accessibility, system configuration, ground conditions, and other matters account for that. So too does the amount of excavation that has to be done and what kind of ductwork modifications are needed. And if you’re having a new home constructed? It’s not as pricy, generally, but it’ll still cost approximately 40 percent more than a typical HVAC system will cost you.

Okay, you wanted the bad news first. Now, for the good news. To begin with, a number of incentives and rebates may be obtainable at the federal, state and local level to help you bear the installation costs. Next, the energy savings possible with your new geothermal heating and cooling system will start paying back your initial investment relatively quickly. That means you could recoup your investment in as little as four years. But be forwarned: Local utility rates and the total cost of your installation may hold up full repayment for as long as 15 years. Seeing as how geothermal systems typically keep working for upwards of 30 or 50 years, though, you’ll still make out all right. You merely have to decide early on what your finances can tolerate … and how patient you are.

2.     Geothermal Benefits Can Easily Offset Worries About Up-Front Costs

We’ll enumerate the major benefits:

  • Compared to more familiar heating and cooling systems, geothermal heating and cooling could clip as much as 30 to 60 percent off your heating bills. And it could shrink your cooling costs by as much as 20 to 50 percent.
  • Geothermal systems use renewable energy – heat taken from the ground.
  • Geothermal heat pumps don’t run by combustion, so you’re not bothered by greenhouse gas emissions (carbon dioxide, carbon monoxide, etc.) and you have no fire safety or air quality concerns.
  • Because no outdoor fans or compressors are required, geothermal heating and cooling systems run much quieter than conventional systems.
  • The absence of many complicated moving parts and the fact that geothermal systems are protected from the elements ensure many decades of low-maintenance, top-performance use. Indoor components may be good for about 30 years, ground loops, about 50.

Need more information on any of these points in order to make a decision about your heating and cooling options? Speak with the Panama City geothermal experts at Ridge Heating and Air. We’re happy to help, no matter what you decide.