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.

The performance of a heat pump using river water as a heat source was compared with that of a conventional air-conditioner for cooling and a boiler system for heating. The heat pump system using river water considered the 1-stage cycle for cooling and the 2-stage cycle for heating. The COPs of the river water source heat pump were 0.5-1.1 higher than those of the conventional system in the cooling season. The LCC of the river water source heat pump system was lower 13.5% and 32.4% than that of the conventional system Ⅰand Ⅱ. In addition, when the initial cost ratios of the river water source heat pump system to the conventional system Ⅰand Ⅱ were less then 1.2 and 1.4, respectively, An acceptable payback was found to be less than 5 years.