“After we ran the numbers on the geothermal system in our application which is 2,000-3,000 sq ft. condos, we’re probably paying twice the amount as we would have for a typical HVAC
system. But we have drawn so much attention and we’ve gained so many sales just from
exclusively having geothermal that we knew within one month of starting sales it was so worth it.
We took a risk and it ended up paying back 10 fold more than we expected.”
“We had an option to go with the status quo, to go with propane heating and air conditioning condensers outside. We could have sold it as the general mass-market approach to
it but then we realized we wanted to differentiate ourselves. The question we asked ourselves
was ‘is differentiating ourselves using environmentally conscious methods, is that going to allow
us to stand out and get us a price premium over the alternative’. After we ran the numbers on
the geothermal system in our application which is 2,000-3,000 sq ft. condos, we’re probably
paying twice the amount as we would have for a typical HVAC system – instead of $30,000
we’re putting $60,000 in for these geothermal systems. But we have drawn so much attention
and we’ve gained so many sales just from exclusively having geothermal that we knew within
one month of starting sales it was so worth it. We were pulling in customers from Manhattan,
people who would typically look in Southern Westchester, from all over the place people would
say I am buying this condo because of geothermal. At least 60% of our customers almost
exclusively did it because no one else offers it. We took a risk and it ended up paying back 10
fold more than we expected.”

Ryan Boniello, Boniello Development