Geothermal - Cheaper than traditional HVAC with tax credits?
Hi all - We are finalizing our floor plans and do not have hard quotes from any contractors, but we have been discussing the pros/cons of geothermal vs. traditional HVAC. We are builing a one-story 5000 sq ft home in central NC. We plan to have a tight envelope with good insulation. Rough estimates we have found for a traditional HVAC system are aroung $25K, whereas geothermal would be $45K. With geothermal, we would get a 13.5K federal tax credit and $8.4K NC tax credit. This makes is $2000 dollars cheaper to do the geothermal out of the gate. Could this be right? What am I not taking into consideration? I feel pretty certain that geothermal would save a us some on electricity, but at a cost savings, I am not sure the amount even matters. Please give me your feedback. Thanks in advance!