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Economic Estimation of Heat Storage Type Geothermal source Heat Pump System Adopted in Government office Building by a Payback Period Method  

Ko, Myung-Jin (Dept. of Architectural Eng., Graduate School, University of Incheon)
Oh, Jung-Keun (Dept. of Architectural Eng., Graduate School, Yonsei University)
Kim, Yong-In (NOW Consulting Engineers Co. LTD)
Kim, Yong-Shik (Dept. of Architectural Eng., University of Incheony)
Publication Information
Journal of the Korean Solar Energy Society / v.27, no.4, 2007 , pp. 175-182 More about this Journal
Abstract
Geothermal-energy has been getting popular as a natural energy source for green buildings these days. As a result Geothermal Source Heat Pump System (GSHPs) was being recognized effective alternative systems to conventional heating and cooling systems owing to their higher energy utilization efficiency. But GSHPs has not been popularized thereby the large amount of initial cost of the system and insufficiency of studies for economic estimation. Therefore GSHPs are being developed to make up for the weak points that are the large amount of initial cost of the system and much annual electricity consumption. In this paper, economic estimation was conducted by payback period method and it shows that the pay back period of Heat Storage Type GSHPs was calculated 6.8 years compared with the absorption Chiller-Heater system and 8.2 years compared with the Ice storage-Boiler system. Heat Storage Type GSHPs also has the lower annual source energy consumption than the conventional heating and cooling systems because of using nighttime electricity.
Keywords
Government office Building; Heat Storage Type Geothermal Source Heat Pump Systems; Initial & Running cost; Payback period; Economic Estimation;
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