There’s one part of a geothermal system that drives the price out of most people’s range, the ground loop. There’s no getting around the ground loop because that’s the one component that makes all the difference in cost of operation between a conventional air-source system and a geothermal heating & cooling system.
EUREKA! The loop cost is no longer cost prohibitive! Caddo Electric recently launched the latest program in our “Peak Smart” family of energy efficiency incentives. The Geothermal Loop Program is now available and we’ve already had many takers. For members who choose to participate, the cooperative will install the loop for the geothermal system and retain ownership of the loop, which means we also retain the maintenance obligation should there be any. In exchange, the homeowner agrees to provide a permanent easement for the loop as well as sign a loop agreement agreeing to a monthly thermal charge for using the loop with their geo unit. The monthly thermal charge is a minimal cost around $15-$25 per month depending on the total cost of the loop.
In addition, all geothermal purchasers will receive a cash rebate of $650/per ton with hot water generation or $450/per ton without hot water generation. But that’s not all, you’ll also be placed on our best load control rate available which is an automatic annual savings of about 10% over standard residential rates. Taking advantage of this program means your final cost of installation will be less than the cost to install a high efficiency air-source heat pump which is 25-30% less efficient than the geothermal. Why would you want to do that?
If you’re interested in learning more you should contact Keith or Boyd in the Marketing and Member Service Dept. You can contact Keith at 405-656-9115 or Boyd at 405-656-9135.