In the winter, a heat pump removes heat from the heat exchanger and pumps it into the indoor air delivery system. However, in the summer, the process is reversed, and the heat pump moves heat from the indoor air into the heat exchanger. The heat removed from the indoor air during the summer can also be used to heat water, providing a free source of hot water. Geothermal heat pumps use much less energy than conventional heating systems, since they draw heat from the ground. They are also more efficient when cooling houses. Not only does this save energy and money, but it also reduces air pollution. Studies show that approximately 70% of the energy used in a geoexchange heating and cooling system is renewable energy from the ground. The remainder is clean electrical energy which is employed to concentrate heat and transport it from one location to another. In the winter, the ground soaks up solar energy and provides a barrier to cold air. In the summer, the ground heats up more slowly than the outside air. In this study, an economic analysis is carried out for ground source heat pumps in Bolu, Turkey. The results obtained are given and compared to other systems.