my present heat pump is an econar 4.5 ton water to air machine. It is quiet and very efficient It has been delivering an efficiency of over 400% since I Installed it in 1995. In 2000 I had a water side heat exchanger freeze rupture causing extensive damage to the machine. The cause was a defective low temp sensor and the manufacturer warranteed the machine, effectively replacing all refrigeration components, compressor , water side and airside heat exchangers free of charge including shipping back from the factory. In 2013 I had a refrigerant leak on the water side heat exchanger and the defect was determined to be a manufacturing defect and the heat exchanger has replaced under warranty!! 18 years after I purchased the machine. This was a parts only warranty but oh well it was a $800 part and besides that the new one does a lot better job.
My normal heating cost for a northern Wisconsin winter has been in the $400 range for the whole season, as compared to my neighbors who heat with propane who normally heat for closer to $2000.00 annually. Air conditioning is astoundingly cheap about 8 bucks a month and I don't scrimp on the air either. A neighbor with a similar house with a conventional a/c system pays about $80.00 per month for his air conditioning.
I do not participate in any off peak programs and pay the normal electric rates. I do not have a desuperheater for domestic hot water this would have saved me an additional $250 bucks a year but I feel they can cause more problems than they are worth.
In operation I change the air filter 4 times a year and the water filter gets changed once a year.
I figure I have saved $36,000.00 in heating and air conditioning in the last 18 years.
The equipment cost for a new heat pump is about the same as buying a new furnace and air conditioning system.
The big cost of a geothermal system is the heat exchange ground loop in a closed loop system, In this area loops cost about $2000.00 a ton or $10,000 for a 5 ton loop. nothing to sneeze at. I did not opt for the closed loop system and have driven my heat pump with my well instead. This is not common anymore but it has been problem free for me. You really have to have good water for an open loop system and I am fortunate here. All the water I use is discharged and soaks back in the ground in effect goes back where it came from not wasted, all I took from the water was heat.
My water consumption is 6 g.p.m. in the heating mode and 3 g.p.m. in the cooling mode. My well is capable of 20 g.p.m. all day long so I have no water shortage issues
Would I do it again? yup. I can give you 36,000 reasons why and the reasons are adding up more every day