Cost savings of GSHP are seen in relation to heating/cooling energy consumed using other forms of fuel. Typically savings in systems fuelled by electricity, and liquid fuels are higher than the savings against systems fuelled by natural gas because of the relative low price of gas compared to other fuels. However, it is subjected to local energy prices. Higher payback periods also facilitate an increase in the allowable upper limit in the incremental capital costs.
A Canadian example of GSHP shows encouraging relationship between the breakeven thresholds costs and GSHP efficiency and can be seen in the following figure. for Ontario (Dowlatabadi, Hanova, & Mueller, 2007).
Ground Energy Support (GES) has been involved in live monitoring the energy consumption of GSHP heat pumps installed in single-family residences in various parts of the USA and a sample period data shows significant savings in operational costs due to the use of GSHP (Ground Energy Support, 2014). The following table shows the savings data with respect to other conventional fuels.
| Monitoring apparatus installation | Operating Cost | Cost Savings | Monitoring apparatus installation | Operating Cost | Cost Savings |
|---|---|---|---|---|---|
| Name (year installed) | Geothermal | Electric Heat | Fuel Oil | Nat. Gas | Propane |
| Durham #1 (2011) | $111 (€ 85) | 70% | 66% | 7% | 71% |
| Durham #2 (2011) | $90 (€ 70) | 77% | 74% | 32% | 77% |
| Barrington (2008) | $171 (€ 130) | 64% | 60% | -10% | 65% |
| Lee (2001) | $150 (€ 115) | 56% | 51% | -6% | 57% |
| Dover (2008) | $72 (€ 55) | 66% | 62% | 11% | 67% |
| Average Savings | $119 (€ 90) | 67% | 63% | 7% | 67% |
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