How Can Installing a Geothermal System Save You Money?

Earth Power Loans

The installation of your geothermal system can be financed by Manitoba Hydro's Earth Power Loans program.

You can borrow up to $20,000.00 over 5 years and pay off the loan at any time. Payments are conveniently made on your monthly Hydro bill. Currently, Manitoba Hydro's Earth Power Loan rate is 4.9%.

Contributing to a Better Environment

Geothermal heating & cooling systems draw upon the natural heat produced by the Earth to heat and cool your home or business.

Very little electricity is used by the heat pump itself. No fossilized fuels are used. Therefore, there are no emissions, which are know to contribute to The Greenhouse Effect and global warming.

Geothermal vs RRSP

What should you do? Install a less expensive conventional heating system and invest the rest in an RRSP?

Or, should you install a geothermal system?

This spreadsheet shows you the suprising difference.

Because a geothermal system does not use fossilized fuels, and very little electricity, annual heating and cooling costs are reduced by up to 70%. If the installed system is properly connected to hot water heaters, those expenses are substantially reduced as well.

The equipment we install has a design life of 20 - 25 years, therefore a geothermal system is often more expensive to install than conventional heating systems. That expense is quickly offset by the system's savings and efficiency and most systems are paid for within 5 to 7 years.

We encourage you to have a look at our spreadsheet on this site, which compares the cost of installing a geothermal system to installing a conventional system, and investing the difference in an RRSP.

How Many BTU’S are You Getting for Your Dollar?
ENERGY	EQUIPMENT	EQUATION	BTU’S per $ 1.00
ELECTRIC Kilowatt Hours	Typical Geothermal heat pump	3413 BTU x 370% $ .08 per KWH	145,052
	Furnace	3413 BTU x 100% $ .08 per KWH	42,662
	Furnace & Air Heat Pump	3413 BTU x 184% $ .08 per KWH	78,499
OIL Litre	Furnace	36,668 BTU x 52.7% $ .37 per Litre	52,227
OIL Litre	Hi-Efficiency Furnace	36,668 BTU x 73.2% $ .37 per Litre	72,543
PROPANE Litre	Furnace	25,217 BTU x 54.6% $ .364 per Litre	37,826
PROPANE Litre	Hi-Efficiency Furnace	25,217 BTU x 84.4% $ .364 per Litre	58,470

Electric * 1 Kilowatt Hour = 3,413 BTU’S
Oil * 1 Litre = 36,668 BTU’S
Propane * 1 Litre = 25,217 BTU’S