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The average national cost to install a geothermal heating or cooling system is $5,745, with most homeowners spending between $3,534 and $11,089.
8.7. How will the cost of geothermal energy compare to the cost of fossil fuel in the future? Costs for geothermal generation at some facilities have decreased to half the original price per kilowatt hour of power in 1980, compared to when the first independent geothermal plants were installed.4) According to the CEC report, natural gas costs $101 per megawatt hour for a 500 MW combined cycle power plant and $586 per megawatt hour for a 100 MW simple cycle plant.