How Will Geothermal Affect My Energy Bills?
With fossil fuels, you always lose money up the flue. Its like taking a quarter out of every dollar you spend on heating. With geothermal you get more energy than you put in! You can completely eliminate fossil fuel bills. Geothermal can reduce your commercial or residential bills for heating or cooling of air or water by up to 70%. There is a proportional increase in your electric bill. For example, if you now spend $10,000 on heating with fuel oil each year and Achieve replaces oil with our most efficient geothermal options, you will spend no money on oil but will spend about $3,000 on electricity. Here are some of the details:
Geothermal heating requires no fossil fuels. Your fossil fuel consumption for heating will be reduced to zero. WaterFurnace units are from 300% to over 500% efficient. This means that a geothermal unit can provide 3.3 to 5.3 units of heat per unit of energy consumed. This is possible because the geothermal heat pumps use power to extract heat from the ground, not to create it through combustion. Gas furnaces that are 15 to 20 years old typically have an efficiency between 65% and 80%. A new, high-efficiency gas furnace can achieve 90 to 92% efficiency. Oil furnaces are typically 60% to 85% efficient. Fossil fuel systems just can’t compare to geothermal.
Geothermal cooling utilizes less electricity than air-to-air condensers. The cooling EER ratings for WaterFurnace heat pumps range from 13.8 to 31.6 Btuh/watt. EER ratings for room air conditioners typically range between 8.2 and 11.0 Btu/watt. ENERGY STAR qualified central air conditioners must have EER ratings of at least 11 Btu/watt. Geothermal can be up to 4 times as efficient as your older air conditioner!
Homeowners can expect approximately 40% to 60% of their annual hot water needs to be produced by their geothermal HVAC unit. When the geothermal unit is operating, up to 100% of hot water needs will be met; when the unit is not operating no hot water will be generated and a conventional water heating source is used. It is becoming popular to use a dedicated geothermal hot water heater to supply 100% of hot water needs. The efficiency of the dedicated hot water units is unmatched by other technologies.
The Efficiency Adds Up
What does the high efficiency of geothermal mean to you? It means you can save thousands of dollars a year. The following calculator provides an estimate of annual heating and cooling costs for a typical homes in New England.