The launch of Dandelion could save homeowners thousands of dollars in fuel bills while reducing greenhouse gas emissions.
Last week, Google’s parent company, Alphabet Inc., launched a geothermal start-up focused on the residential market. The new company, called “Dandelion,” is poised to capitalize on an expanding geothermal energy market, which is expected to grow from $34 billion in 2016 to $57 billion in 2024.
Existing geothermal systems for homes can cost upwards of $60,000. Dandelion’s product, which employs a fast, lean drill to punch two deep holes in your backyard, is expected to cost between $20,000 and $25,000. The two-hole loop system allows for use of geothermal heating in the winter and cooling during the summer.
The company’s initial target market is focused on the northeastern United States, where traditional home-heating systems are based on fuel oil or propane. It is estimated that 2 million homes in New York alone are still dependent on oil or propane, offering the average homeowner the opportunity to save anywhere between $35,000 and $63,000 over the course of 20 years. Using geothermal would also prevent between 110 and 130 tons of CO2 per household from entering the atmosphere during that period.