| Title | THE ECONOMICS OF GEOTHERMAL HEAT PUMP SYSTEMS FOR COMMERCIAL AND INSTITUTIONAL BUILDINGS |
|---|---|
| Authors | R. Gordon BLOOMQUIST |
| Year | 2001 |
| Conference | Geothermal Energy in Underground Mines, Ustron, Poland |
| Keywords | |
| Abstract | Although introduced in the 1950s with a great deal of fanfare and early publicity, geothermal heat pumps have yet to obtain mainstream status among mechanical engineers and heating, ventilation, and air conditioning (HVAC) contractors. At the present time, they make up only a small percentage of new installations despite aggressive programs by government agencies and utilities to commercialize the technology. The most common reasons given for this lack of acceptance are high capital cost and concerns over reliability and high maintenance costs. A lack of well-documented information relative to the real life-cycle costs and maintenance requirements of geothermal heat pump systems has contributed significantly to this view. However, recently-completed research and a growing number of case studies has begun to shed new light on the true costs of geothermal heat pump systems versus other HVAC alternatives. This recently-completed body of work points to lower life-cycle costs for geothermal heat pump systems than any of the alternatives, and, in fact, geothermal heat pump systems were found to have lower first cost than several popular alternatives. Broad acceptance of the technology may, however, have to wait until additional collaborating studies can be completed and published by well-recognized organizations such as ASHRAE. |