After getting quotes for a Geothermal system on a 2400 square foot house in Central NJ, as far as I can calculate, the absolute shortest payback period will be 10 years, and a more likely scenario is a payback period of 15-20 or more years. This takes into account that we will not be mortgaging the additional cost of the geothermal, but instead paying out of pocket. We cannot and will not mortgage beyond a certain amount, and geothermal breaks the bank. The gas system we spec'd is the Rheem 90+ dual modulating furnace with a modulating thermostat. Other than satisfying my tree-hugging instincts, can anyone offer any reason to go with a geothermal based on these payback periods? It is unlikely that we will be in the house longer than 15 years, and I have considered the escalating cost of gas. My other concern with installing a geothermal system is the lack of contractors in my area. I scraped to get 2 quotes, and I am concerned about service down the road.
As always, thanks in advance for your replies.