For each home the heat pump savings will vary, but it will occur. This is due to the fact that heat pumps are more efficient that gas and oil burning furnaces in converting the energy input into heat. There is also the additional advantage of the heat pump working as an air conditioner so you only need to have one device at your home or place of business. This will reduce installation and maintenance costs.
The traditional heat pump without the geothermal piping is most efficient in heating the home when the outside air is at 50F. As the temperature drops so does the efficiency of the heat pump since it has to run longer to heat the home.
The advantage of the geothermal heat pump is that the 50F temperature is not of the outside air but the temperature of the ground. This is always cooler in the summer and warmer in the winter than the outside air temperature. The temperature variance can be as great as 20F, which significantly increase the efficiency of your heat pump operation by reducing its work load. The less it has to work, the greater the energy savings.
In a direct comparison of energy cost with an output of 1 million BTU at fuel costs for 2010, the geothermal heat pump is the clear winning at $5.81. The air source heat pump would cost $8.17 for that same amount of heat. The high efficiency gas furnace was third with $16.77 in cost. The other types of heating systems fell in at the electric zonal heat with $17.29, standard gas furnace at $19.71, standard electric furnace at $20.34 and the standard oil furnace at $24.65.
For every 1 million BTU's you consume with a geothermal heat pump over the standard gas furnace you can save $13.90. Since the average American home consumes 72.5 million BTU’s each year according to the American Gas Association, your cost savings can average $1,007 annually.
As evident from the direct comparison heat pump savings per year is significant in revenue while also reducing America’s reliance on foreign energy sources. Both are good for America and its citizens.