BABA-Geothermal System-Air Source Heat Pump-Results

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You may be able to install a vertical loop (more expensive) or a horizontal loop (less expensive, but requires a minimum of ½ acre).
Larger homes may be able to offset installation costs more quickly than smaller homes due to higher monthly savings.
Geothermal is one of the most environmentally friendly and longest lasting renewable options with special DTE rates.

Crunching the numbers*

On average, a 1,400 sq foot home in Michigan that switches from propane or fuel oil to a geothermal open loop system:

Requires about $20,000 for equipment and labor to install, after incentives (compared to $4,500 to install a new propane or fuel oil system)
Will see a return on investment in about 17 years by generating $890 annual savings in heating and cooling costs
Reduces emissions as much as planting 39 trees each year

One air source heat pump can effectively heat and cool a small home, and multi unit systems are an option for larger homes.
Air source heat pumps don’t require a large amount of land space like a geothermal system. Instead, its about the same amount as a conventional furnace and AC.
Air source heat pumps are an environmentally friendly option which are eligible for special DTE rates that provide a discount of about 30% in the winter, and 10% in the summer.

Crunching the numbers*

On average, a 1,400 sq foot home in Michigan that switches from propane or fuel oil to an air source heat pump:

Requires about $9,000 for equipment and labor to install, after incentives (compared to $4,500 to install a new propane or fuel oil system)
Will see a return on investment in about 5 years by generating $870 annual savings in heating and cooling costs
Reduces emissions as much as planting 25 trees each year

* Numbers are an estimate of expected costs and savings. Exact experiences will vary.

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