Should you consider a geothermal heating & cooling system? This page will give an overview of what factors to consider when deciding whether geothermal is right for your home. You’ll also gain a basic understanding of how geothermal works.
What is a Geothermal System?
Geothermal systems take advantage of the renewable energy found in the earth to heat and cool your home. They consist of three main components:
- Ground Loop System – pipe that transfers heat between the earth and your heat pump unit
- Heat Pump Unit – directs the flow of heat to your home. In heating mode, heat is pumped into your home. In cooling mode, it is pumped out of your home.
- Distribution System – your ventilation system, in-floor heat, hot water tank, or other heating/cooling distribution method
Is Geothermal Right for Me?
Geothermal systems are more expensive to install, but less expensive to run. This means that your initial investment will be higher, but you will save money over the long term. Financing is available to help with installation costs.
- System cost – your provider can help you decide which system best fits your home’s needs and your financial needs
- Installation costs – we will help you determine what setup works best for your environment
- Maintenance fees – we carry Hydron Module geothermal systems that are designed to last 20-24 years in comparison with conventional systems which are expected to last 13-15 years
- Running the heat pump costs 50-70% lower than conventional heating/cooling systems (source), resulting in significant cost savings over the long run
Saving Money With Financial Incentives
You can save on geothermal with financial incentives available from Manitoba Hydro and the Manitoba Government.
- Existing & New Homes: Manitobans can now receive up to approximately $5,000 from the province (source)
- Commercial Buildings: Owners eligible to receive up to 15 per cent of the value of their installed geothermal systems. (source)
- Green Energy Equipment Tax Credit from the Manitoba Government – a 15% tax credit on the remainder of the capital costs of the geothermal system (excluding the heat pump) if the installer is certified by the Manitoba Geothermal Energy Alliance (source)
- Financing is available through Manitoba Hydro
Temperature changes are more gradual compared to conventional heating and cooling systems. Avoiding sudden temperature changes improves overall home comfort.
Consider: The Environment
Installing in a typical home is the equivalent greenhouse gas reduction of planting an acre of trees, or taking two cards off the road.
No fossil fuels are burned to operate the unit, and it requires very little electricity compared to conventional systems.
To summarize, geothermal systems can help you save on energy costs in the long run. The up front costs can be reduced using financial incentives, and you can enjoy an environmentally-friendly way to heat and cool your home.