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Theredsoxman OP t1_j588h1t wrote

Reply to comment by Notmystationbro in Does anyone have a ground source heat pump? What is your experience like? by Theredsoxman

Yes, but the 15k rebate, 25k interest free loan, and tax incentives soften that greatly for me. Plus, getting central air and not paying a $300+ monthly gas bill….

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modernhomeowner t1_j58dq72 wrote

Just note in the savings... depending on where you live, where I live I believe the gas rate is $2.17 a therm, electricity with a good contract from a third party is 28¢, if you are getting a heat pump with a 4 COP, you will save only about 15% of your natural gas costs. If you have National Grid's rack rate, you are paying substantially more to run geothermal than gas, with the breakeven at around 32¢. Not saying you shouldn't get one or anything, but don't factor in savings on Natural Gas into the equation, as electricity has the potential to be more costly than your current gas.

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Theredsoxman OP t1_j5cze6m wrote

One extra thing I noted in my research. My gas furnace is fairly efficient, but it's using plenty of power too. Using June as a base for least amount of energy used, I estimate it cost me about $148 last February (573 kWh) just to power the furnace not including the gas. Ironically, our window ACs jump to similar number in the summer. It's very hard to lock down a super accurate number, but I'm confident it's in that ball park.

Electric for me is about $0.25 per kWh (even being partly sourced by National Grid)

Gas is $2.15 per therm when you stack delivery and usage.

We'll see how it goes. Thanks for the math and insight.

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wiserTyou t1_j6d3b6z wrote

If you have a condensing gas furnace, I would not replace it until it reaches the end of it's life. They're fairly efficient. MassSave is doing a good job but with the increasing price of energy I wouldn't want to be locked in until things settle down. Oil I would switch in a heartbeat. I have heard at a convention that restrictions will increase for commercial usage at some point.

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