Switch from propane to geothermal and you will save money by the truckload.
Many homeowners or businesses use propane furnaces to heat their spaces due to their energy efficient properties and operational costs as compared to electric heating systems. While this may be true, there is still a better choice that many often overlook. Geothermal heating and cooling systems do not require the use of fossil fuels to function, and harness earth’s natural energy to deliver heat throughout your space. This is not only environmentally friendly, but cost effective, as well. For those considering making the transition from propane to geothermal, there are a number of aspects to take into consideration.
Energy Efficiency - While propane furnaces are known to have efficiencies ranging from 90-95% on average, geothermal heat pumps are well beyond to provide efficiency levels reaching 300-600%. This leads to estimated yearly savings of approximately 70-80% over propane heating systems. Of course, estimating your exact savings is dependent on fuel costs, space size, and your heating preferences.
Rising Propane Costs & Fluctuating Demand - Heating systems using propane are susceptible to its unpredictable prices and fluctuating demand. As demand increases, you can expect supply to decrease, and prices to increase. There are a number of factors affecting the cost of propane, none of which are predictable. This leaves estimating your energy costs a variable factor. Fortunately, this issue does not apply to geothermal systems as they use natural energy from the earth, in addition to small amounts of electricity to operate the heat pump. As a result, geothermal systems are estimated to save homeowners upwards of $2,000 per year on heating and cooling costs!
Inconvenient Propane Deliveries - Using a propane-fired boiler or furnace is not the most convenient option. Propane deliveries can be expensive, not to mention the danger of having a propane tank on your property.
Added Functionality - While furnaces and boilers only perform heating functions, geothermal heat pumps are also capable of cooling your space in the summer, and have an option for delivering free hot water, as well. Factor in these savings and the benefits are invaluable!
Installations Costs - While the price and installation costs of a geothermal system are more costly than a propane system, the yearly energy savings you experience with your green system will allow you to recoup the additional installation costs spent, within 2-5 years on average.
System Life Span - It is estimated that furnaces have a life span of 15-20 years. Geothermal heating and cooling systems have been found to have a life of roughly 25 years, while the underground loop can last up to 50 years! Additionally, those with furnaces must also take their air conditioner into consideration and its installation costs in the event that it would need to be replaced. By switching to geothermal, you will have just one unit to perform both heating and cooling costs!