« on: February 25, 2011, 07:54:52 PM »
My wife and I live in CT and have been in our new house since June 2010. We installed a geothermal system when we built the house last year. It was not cheap, about 30k for a 3 ton setup for a 1900 sqft ranch style house. We got back about 13,600 from tax credits and rebates. We have gotten about 80+ inches of snow so far this winter. Our last two electric bills were $221 for Dec and $187 for Jan, that is for heat, hot water and elec for the rest of the house combined. I talked to one of my neighbors and he paid $350 for oil and $100 for elec for last month. So in the last two months we paid about 500 less than my neighbor for utilities. So far I am happy with the system and don't regret going with geothermal over oil or gas.
IMO geothermal is best suited for new construction. I have heard horror stories of people who installed geothermal in older houses and end up with high elec bills if the house was not well insulated. Our house is an Energy Star Rated house which helps boost the efficency of the geothermal.