A combined heating and cooling system was developed and the system performance was simulated by a mathematical model. This is a building integrated system whereby the facade is used as a solar collector. The system consists of two cavities, i.e. the air is heated throughout the Cavity 1 whereas the air in Cavity 2 is cooled via indirect evaporative cooling. The simulation study used weather conditions of London for a south-facing façade with plate area of 40m2; and followed by a simple economic analysis for the system. Space heating is needed for most of the months, however cooling is more favorable for the months of June, July and August. It is estimated that present system is able to give an annual energy saving of 10,877kWh, which is equivalent to 5,874kgCO2/year of emission avoidance. Moreover, it is cheaper compared to the conventional solar flat plate air heaters. For a discount rate of 5% and 30 years of lifetime, the economic analysis found that the total system cost is approximately £4,952, which gives a payback period for less than a year.
An Economic Analysis on Geothermal Heating and Cooling System for Residential Cluster Homes