At a cost of $80,000 and upwards, geothermal systems have often been too expensive for homeowners, even if harnessing the natural temperatures of the earth will eventually mean year-round savings on heating and cooling, and no more oil and propane tanks in the basement. But at $20,000? Might homeowners start becoming interested then?
That’s the hope of a New York startup called Dandelion. It has developed a whole new process for installing, packaging, and financing home geothermal systems, thus cutting the typical cost by up to three-quarters.
Developed over two years at X, Alphabet’s “moonshot factory,” Dandelion recently won $2 million in seed financing from venture capital firm Collaborative Fund, plus other firms like ZhenFund and Borealis Ventures. The startup currently operates in 11 New York counties (Dutchess, Ulster, Columbia, Greene, Rensselaer, Albany, Schenectady, Schoharie, Saratoga, Montgomery, and Fulton) and plans its first installations this September.