With over 7M households in the Northeast alone currently heating with fuel oil and propane, New York-based Dandelion Energy will expand its presence as it looks to complete more installs of its affordable geothermal heating system this year. That will come following a new $16 million investment round in the geothermal-based home heating and cooling solution from Google Ventures and Comcast Ventures.
While geothermal solutions have been around for quite awhile, Dandelion’s system makes it cost effective for residential customers after taking advantage of tax credits. For customers looking to install a new heating and air conditioning system, financing a Dandelion Geothermal instead will on average offer savings of around $2250/year. The company hopes the system can eventually help combat the roughly 11% of carbon emissions that are estimated to be caused by home heating and cooling solutions.