Economic Analysis of a Ground Source Heat Pump System
In this study, the economic efficiency of ground source heat pump systems were analyzed by comparing with the performance of a conventional system which applied to an air-conditioner for cooling and a boiler for heating. The economic assessment was carried out by the method of life cycle cost and payback period. As a result, the operation cost of the ground source heat pump system was reduced by 18% for cooling and 50% for heating throughout the year. The ratio of life operation cost to life cycle cost increased with the increase of the system capacity. In addition, the payback period was analyzed less than 5 years when the capacity of the ground source heat pump system was more than 10 RT.