A ground source heat pump will almost always save money on monthly heating and cooling costs compared to a gas or oil furnace. Still, your savings and payback period can vary based on your existing heating and cooling systems.

Another barrier to widespread geothermal use is investment cost. “Geothermal is capital-intensive,” he notes, requiring comparatively higher initial investment than some other energy sources.

Pros. A geothermal heat pump system can be three to four times more efficient than the highest-efficiency air-source units. According to the U.S. Department of Energy, investing in a geothermal heat pump can help you decrease your energy consumption by 25% to 50% compared to traditional systems that use air.

If you are sick of high electric bills, geothermal is a great way to cut those monthly costs. How much can geothermal reduce your electric costs? By harnessing the stable underground temperature to provide your heating, cooling and hot water, geothermal can your cut energy use by up to 80%.