Why Renewable Energy?
The Bottom line:
While environmental benefits and reducing the carbon footprint are vitally important, at Coneco Energy we know the economics have to work.
Even though everyone would like to do the right thing, the bottom line is the bottom line…using alternative energy has to be cost effective. The good news- choosing renewable energy (RE) does make financial sense. The bad news – RE will be more expensive initially. But the system’s life-cycle cost savings will more than make up for the upfront investment. Please take a moment to look at these ROI payback models and cost comparisons below:
Residential Payback – Geothermal
Residential Payback Model – Solar
Commercial Payback – Geothermal
Commercial Payback Model – Solar
The Annual Cost to Heat an Average 3,750 SF Home for One Year*
|ENERGY SOURCE||COST OF
|SYSTEM EFFICIENCY||$ PER MILLION BTU||ENERGY CONSUMED
|ENERGY COSTS $/YR|
|FUEL OIL||$3.40 / Gallon||92% Efficient||$26.79||200||$5,359|
|PROPANE||$3.40 / Gallon||92% Efficient||$41.02||200||$8,204|
|NATURAL GAS||$1.43 / Therm||92% Efficient||$15.51||200||$3,102|
|ELECTRIC RESISTANCE||$0.16 / kWh||100% Efficient||$46.88||200||$9,376|
|AIR SOURCE HEAT PUMP||$0.16 / kWh||1.8 COP**||$26.04||200||$5,208|
|GEOTHERMAL (GROUND SOURCE) HEAT PUMP||$0.16 / kWh||3.9 COP||$12.02||200||$2,404|
*Approximately 200 MBTU (200 million BTUs) will heat a 3,750 SF home for one year
**COP (Coefficient of Performance) is a measure of heat pump efficiency
Download this cost comparison chart in pdf format.