A New York startup called Dandelion has created a new process for installing, packaging, and financing home geothermal systems, making them much more attainable for homeowners.
Fast Company reports that Dandelion was recently awarded $2 million in seed financing. It operates in 11 New York counties and has scheduled its first installations for September.
At $20,000, Dandelion’s geothermal systems are roughly $60,000 cheaper than comparable systems. The company is able to save costs by developing its own drilling rig that is smaller than traditional geothermal rigs.
Geothermal systems have two main elements: an electric heat pump inside the home, and ground loops dug into the garden. The systems exploit the natural heat of the ground below a house. In winter, the pump circulates water through the loops absorbing warmth in the ground and bringing it inside the home. ... In summer, the systems transfers the water and heat to the ground, cooling the air inside a home.