That means you’ll only need (1,412.5kwh per person x 0.65) 918.125kwh of electricity per person. Compare the number above to $4,864 and you can see that you’ll save 67.5% on your heating costs every year, for the lifespan of the heat pump.Click to see full answer. Similarly one may ask, how much energy does a geothermal heat pump produce?In general, a 3-ton residential geothermal heat pump system produces an average of about one pound less carbon dioxide per hour compared to a conventional system.Secondly, how many kWh does a heat pump use? A heat pump produces 4kW of heat for each 1kW of electricity. The Rightware annual running cost (heating) for heat pumps and air conditioners is calculated using the following equation: Annual running cost (heating) = heat input (kWh) x electricity cost ($/kWh) x running hours per day x 180 (days) x 0.66. Considering this, does geothermal use a lot of electricity? Geothermal HVAC systems are not considered a renewable technology because they use electricity. Fact: Geothermal HVAC systems use only one unit of electricity to move up to five units of cooling or heating from the earth to a building. 2.How much does it cost to run a geothermal system?The national average cost to install a geothermal heating or cooling system is $8,073, with most homeowners spending between $3,422 and $12,723. Including equipment and variable excavation costs, total prices can exceed $20,000. Geothermal heat pumps come in 2 to 6-ton units and average between $3,000 and $8,000.