What is the estimated capital and installation cost of the air-to-air heat pump? What is the estimated capital and installation cost of the geothermal heat pump?
At present, we have rough cost estimates from two separate modeling programs; one from Trane and one from NIST. Using the numbers from the NIST program, the capital and installation costs for air-to-air would be about $215,000, and for geothermal about $318,000. The same program indicates that the differences in operating and energy costs on these systems would produce a simple payback of the difference in cost in about 7 years. Further, the state has money available for 0% loans for energy efficiency with a 7 year term. The result is that the cost difference between these systems could be paid for from the savings, resulting in a net difference in capital costs of $0 over 7 years, and significant cost savings over the remaining lifetime of the system.
