Homeowners should consider several factors before investing in a geothermal system. If the upfront costs are in your budget and you plan to stay in your home long-term, you’ll likely get a better return on investment. New home construction is also ideal for geothermal heat pumps because these installations often cost less than retrofitting.
The total time it takes to recoup your costs depends on your upfront investment, energy savings, local climate, utility rates, and other factors. Most heat pumps pay for themselves within 10 years, but it can take up to 15 years.
Geothermal installation takes one to six weeks, depending on the system type, site conditions, and installation complexity. This process includes excavation or drilling, connecting piping, and configuring the system, so your contractor may leave heavy machinery and other equipment on site until it’s no longer needed. Assessments for your system may occur several months before the installation.