Pond Boss Forums INTRO Questions & Observations Geothermal Heat Pump

Hi everyone. Nice discussion! I'm in N. Central Indiana, about 30 miles SW of South Bend. I had a company last Fall come out and quote a Geo system for the house, and I'm not 100% confident in their service. It took them a bit over 2 months for them to come back with a quote, and I'm wondering who else in N. Central Indiana I could call. My biggest concern is the electrical rates and the actual payback time. I have Nipsco as a supplier, and just got a notice from them about an upcoming 16% jump in rates.

While the savings seem substantial over the Natural Gas heat/standard air conditioning syltem that I have now, I'm still not 100% convinced because they didn't ask to see my electric/natural gas usage, they used their standard formula.

1700 sq. ft. 100+ yr. old farmhouse, no basement (crawlspace), counterflow furnace (all ductwork is in crawlspace, and is not insulated). There is a 6 yr. old 90% effeciency furnace in the house now, and I installed a fireplace insert built by QuadraFire
this Fall. I just got the utility bills last week and it said:
Natural Gas:
1-21-2009 Average temp 21.6, # of days 34, Units used 97.7
vs. last year
1-22-2008 Average temp 29.8, # of days 33, Units used 195.2
$138 for the 1-21-2009 usage
Electric:
1-21-2009 572 kwh used, average daily usage 16.8
1-22-2008 767 kwh used, average daily usage 22.6
$86 for the 1-21-2009 usage

Looking back at last years electric usage during the summer, in July I used 1114 kwh, at a cost of $167 strictly for A/C.

I installed a Bosch whole house tankless hot water heater in the Spring of 2008, which replaced the 30 yr. old Rheem 40 gallon water heater.

I was quoted between $9500 and $12,800 for an open system using a Bosch FHP. This quote did NOT include the Well and the water drainage systems, humidfier, or hot water option. From the house to the pond is approx. 200 feet, and the soil sand down to 12'. My well is new as of Spring 2007, and with the current pump it pumps 28 gpm. The well driller said that with a by changing the well pump I could pump in excess of 100 gpm.

They estimated a payback in 4 to 5 years, but I don't see it.
So, I'm wondering if switching to Geo will be worth it.

Thoughts, comments??? Any suggestions on someone esle to contact for a quote? This quote was from Geothermal Specialist, Inc. in LaPorte, IN.

Thanks!