Economic analysis of vertical ground source heat pump systems in Melbourne

Abstract

This study assesses some economic indicators for residential vertical Ground Source Heat Pump (GSHP) systems in Melbourne, Australia. Publicly available data on the performance and costs associated with such systems is rare. To redress this issue, detailed cost breakdowns are reported herein based on actual installation costs. The average upper bound capital cost is found to be around AUD 31,000, with lower costs possible depending on many factors, particularly when considering the early stage of development of the GSHP industry in Australia. Using the gathered cost data as well as other performance data such as recorded average coefficients of performance of 3.8 and 3.6 for heating and cool..