Re: Alternative heat sources........
Originally posted by roscoe:<br /> crazy1cars, what state are you located in?<br /><br />A very good/close friend of mine just went this route on her new house. She spent over $22,000 for her system that heats just under 1900sq'.<br />She said the tax breaks they were told about, pretty much disappeared due to "qualifying requirements." Got about $4000 credit.<br /><br />Since we live in the northwoods, and she actually lives IN the woods, there is no need for cooling in the summer, so her savings are limited to the heating season. She also had to go on the timed/limited electric use program with the electric company.<br /><br />It may work where you are, but doesn't add up around here.<br /><br />And where are you borrowing $15g for $60 a month?
$22K?!?!? Holy crimony. Yes, that will take a long time to get back.<br /><br />Here's a few more details from my experience:<br /><br />I'm in Indiana, home is a 2,000 square foot ranch plus 1,800 square foot finished basement built in 1973. I was replacing a forced air electric air to air heat pump with electric resistance backup. Contractor installed a forced air closed loop geothermal heatpump from
www.waterfurnace.com <br />Turn-key installation including all outdoor excavating and horizontal loop install via directional boring (very minimal yard damage...one hole a spot about the size of a grave plus some tire ruts here & there from equipment) was exactly $9,453.00. I remember I had another contractor quote me approx $11,500 for a competitive system of a different brand. They re-used my existing duct system. I provided no labor or materials....they did it all. Considering this replaces heat, central air, AND supplements my hot water system, I thought that was quite reasonable....even when you compare prices to more conventional stuff.<br /><br />Click on their "dealer locator" if you go to their site and check your area...there's all kinds of dealers in Wisconsin and they're popular systems. For instance my long-retired parents live in the woods in U.P Michigan...they have a geothermal powered boiler of the same brand for their radiant (hydronic) heat system. They installed it about 5 years ago, and it cut their heating bills by about 45% compared to LP gas fired boiler they had previously. They also have no A/C needs. They have dealers all over Canada as well...cold climates are prime areas for maximum savings from such a system. Now if we're going to compare free wood to geothermal, by all means free wood is going to be much cheaper! But free is a relative term...I don't chop all summer and load & clean stoves all winter. I just push a button.<br /><br />As for $15,000 loan for $60 per month...it doesn't exist. I based my guestimate on $10,000, not $15,000. Plus you'd have to refinance the entire home to get such a thing....here's an example of the math:<br /><br />$180,000 current loan, 30 years fixed, 6% rate = $1,079.19 per month P & I<br /><br />for a $10,000 system...<br /><br />$190,000 new loan, 30 years fixed, 6% rate = $1,139.15 per month P & I ($59.96 per month more)<br /> <br />or for a $15,000 system...<br /><br />$195,000 new loan, 30 years fixed, 6% rate = 1,169.12 per month P & I ($89.93 per month more)<br /><br />The federal tax credits did not take effect until Jan 1, 2006, and they expire Dec 31, 2007....all part of Bush's new energy bill passed last year. So your friend's system wouldn't have qualified for the new federal breaks (neither did mine).<br /><br />Each state and utility company is different as far as tax & rate breaks go, so I can't speak to that in your area. But things quite favorable in Indiana for me and my utility company. My electric is always on just as it always has been...I just pay less pennies per kwh than my neighbors do because of incentives.<br /><br />Another note about the directional boring to get the horizontal loop installed...I live in the woods, too. My entire loop was installed in a heavily wooded area of my property, 3 separate 200 foot double-pipe runs that are all between 10 and 16 feet below the surface. They didn't have to touch a single tree...just dug the one hole in small open area and bored right under them all. VERY slick...I'd HIGHLY recommed this method over conventional trenching which will make your yard look like a war zone. And if you don't have enough land to run 200 foot stretches? Go vertical like Bondo said....a well driller can get those pipes 200 feet straight down real easy. It does cost a little bit more to go vertical than horizontal.<br /><br />Solar heat is yet another good alternative. The feds are REALLY getting into that action with Bush's energy bill...they'll pay up to 30% (max $2,000) of any solar system that's installed over the next 2 years. I'm unclear whether geothermal would be considered solar or not by their definitions. But it's worth looking into.
