We put a geothermal system into our house about four years ago. We are located in central Michigan. Ours was a retro fit, with a propane backup. We have an open loop system, where the water is drawn from the well, used to heat/cool, then discharged into the adjacent stream. Our system cost $13,000 installed, and I figure we save about $1,500-$2,000/year over just using propane for heat. That make it more like a 7-10 year payback. The best part is the cooling effect you get, the air conditioning is very efficient (we did not have air before) so if you factor in the cost of installing central air, the price looks a little better.
Our system has required almost no maintainence, and if I were building new, I would do it again.
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Today's Featured Article - The Tractor Parade: Story of a Case SC - by Bernie DeLon. On a early fall morning back in 1994, I opened the newspaper and happened to spy an article about a local antique tractor club having their annual show that weekend.
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