State of the nation: Customizing energy and finances for geothermal technology in the United States residential sector

Rebecca Neves, Heejin Cho and Jian Zhang

Renewable and Sustainable Energy Reviews, 2021, vol. 137, issue C

Abstract: Geothermal residential heating and cooling systems have undeniable potential savings. The possibilities of the energy savings with a geothermal heat pump system is well-established in the commercial and residential sectors. Building location has a critical impact on the performance of geothermal heat pump systems and magnitude of savings. An important contribution of this paper takes the step past technological optimization to investigate 12 climate zones across the contiguous United States. Residential homes within common neighborhoods are thoroughly analyzed by considering soil characteristics and home construction features. Within these climate zones, federal and all local incentive programs are quantified to determine an accurate expectation for capital investment payback period, a critical factor for system attractability. Ultimately, a climate zone is classified as either a promising or poor candidate for residential geothermal technology based on data from previously conducted human interest polls regarding payback period on energy savings investments. With such lasting potential delivered to the hands of consumers, geothermal energy use still experiences slow implementation. This paper conducts a study integrating data on technology, finances, and human nature to identify the prevailing barrier to widespread geothermal execution. Solid evidence on energy and monetary savings reveals the dominant barriers are initial capital investment and long payback period. This paper highlights the immense positive impact that local incentives have on affecting these two prevailing deterrents.

Keywords: Geothermal; Residential; Custom soil characteristics; Financial incentives; Payback period; Lifetime system savings (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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DOI: 10.1016/j.rser.2020.110463

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