Texas is a leader in onshore wind and is moving forward with offshore wind. They might even be the first in the US to get towers in the water.

And they’re starting to get going with solar. As well, Houston is getting a lot of EV charge points in place.

Now, Texans serving in Congress, that’s likely a different story.

Seriously, though, imagine how different the move toward cleaner energy would be if, for example, we were all driving electric cars and shifting from coal and nuclear power to renewable energy – so much easier than shifting from gas-powered to electric cars. (I blame Texas for this, which is likely politically incorrect of me.)

PS – I cannot sign in with Facebook, for some reason, which is why the site seems to think I’m a guest.

They give a financial analysis based on the 2009 price of propane at $2.15/gallon even though it had already risen to $3.33/gallon by this last March. Using the lower propane price they save $2,820 a year. That’s a 6.5 year payback and roughly 11% per year.

Based on more recent propane costs of $3.33/gallon the savings would be $4,370 per year. That makes for a 4.1 year payback and roughly 17.5% per year.

http://www.geothermalgenius.org/thinking-of-buying/geothermal-installation-by-the-numbers-in-pennsylvania.html

I do think the $18k price too high, but even overpaying if you’re getting a 11% – 17.5% return should you refuse to install? I think not. How do you get 15%+ returns on investment short of becoming a loan shark and busting kneecaps?

Borrow the money, pay off the loan in four to seven years, and then enjoy significant savings. Ed is right, when you install geothermal you’ve locked in your main source of heat (or cool) at a fixed price. Those who make their heat with fossil fuels or electricity are almost certainly going to get hurt as prices rise.

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Are there low interest geothermal loans for people with limited incomes? Saving a couple hundred dollars a month can be a major help for a lot of people.

This is a trick question, right??

Everyone who installs any energy system from now on will be only hurting themselves if they go for the “less expensive” up front cost of “business as usual” Bob notes a 12% return in six years but after amortizing the initial cost the return will escalate yearly until the hardware needs replacing. The rising cost of fossils will assure that.

Ed

Actually $10k might not be too bad. I’m seeing reports of people paying far more for a residential geothermal.

An air to air heat pump might cost $4k or $5k if the duct work is already in place. A 400′ well is likely to be over $5k. (Based on the cost of drilling a water well. $15/foot would be a good price.)

As installation companies get more experienced and there is more competition prices should come down but I wouldn’t bet there’s much room below $10k.

$10k is not that bad a price. Subtract the cost of the alternative system (~$4k for an air to air) and then look at the payoff time for the difference. If the geothermal system saves you an average of $200 a month for five months you’re looking at a six year payback. That’s a 12% return on investment.

A heat pump or furnace/air conditioner might need replacing in 20 years. The geothermal well should be permanent.

If you need AC in the summer your savings will be greater and payback sooner. If you live in the middle of the country where it gets cold in the
winter and hot in the summer a geothermal heat pump could be a wise
purchase.