Dandelion Energy Inc., a company that emerged from Alphabet Inc's X Incubator last year, says its custom built rig will make homeowner geothermal heating systems more affordable.
Brooklyn-based company expects to begin drilling in June for heating and cooling systems that cost less than $ 20,000. According to Chief Technology Officer James Quazi, this is about half the price of typical geothermal plants available today.
Geothermal dormitories are uncommon, partly because of the cost and effort of digging the wells. Dandelion's drill has been designed to address this problem. The systems use pumps from Aaon Inc. to extract underground heat that keeps the houses warm in winter and provides air conditioning in summer. The company already markets the technology in parts of the state of New York.
"We have an order backlog of about 50 customers who have signed up since last fall," Quazi said in an interview. "We will start our first installations in June."
A typical 232 square foot (232 square meter) home using fuel oil in the Hudson Valley region saves around 20 percent of its annual energy bill. The company plans to lease the systems for $ 1