I have friends with a geothermal heat pump system they like very much for their vacation home, as they aren't there all the time. They use a pellet stove when they stay.
So long as the system is installed perfectly, a geothermal heat pump system can cut electric bills to 1/4 the bill they would get with electric baseboard heat.
The downside is that it is easy to 'get it wrong' on installation to become a nightmare, as it takes not only HVAC skills, but good well technology and plumbing skills all coordinated. If the extra thousands of dollars over a conventional heating system won't bother you, then paying big bucks for repairs won't either.
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