• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.29 no.5
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• pp.249-258
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• 2017

This paper provides an economic analysis of a new geothermal heat pump system that reuses condenser waste heat from a Ground Source Heat Pump ($GSHP_{ch}$) to provide energy for a hot water Ground Source heat pump ($GSHP_{hw}$). After conducting feasibility tests using GLD and TRNSYS simulations, the proposed system was effectively installed and thoroughly tested. We observe that 1) the Coefficient of Performance (COP) of the $GSHP_{hw}$ and the $GSHP_{ch}$ during cooling mode improves by up to 62% and 7%, respectively; 2) the number of bore holes can be reduced by two; and 3) the hot water supply temperature of the $GSHP_{hw}$ increases by up to $60^{\circ}C$. We further conclude that 1) the reduction of two bore holes can save approximately ten million Won from the initial cost investment; and 2) the increased COP of the $GSHP_{hw}$ can save approximately one million Won in annual electricity costs.