In the last decade, due to climate change concerns and new environmental regulations in the EU, there was a tremendous rise in installed heat pump systems in new homes and buildings. The majority of these installed units are related to air-source heat pumps, as they offer a good trade-off between capital and operating expenses. However, when analysing heating and cooling heat pump systems from the primary energy consumption and ecological aspects, groundwater and shallow geothermal heat pump systems offer superior efficiency, compared to all market-available thermo-technical systems today. In the last decade, ground-source systems have seen some technological improvement by employing new borehole heat exchanger designs, such as piping with internal fins and a wider diameter (so called Turbocollector) to enhance the heat transfer between fluid and rock, as well as to reduce the pressure drop in the system. Furthermore, the process of drilling deeper offers higher ground temperatures and consequently higher seasonal performance factors in the heating cycle, due to the effect of the geothermal gradient. Nevertheless, although deeper boreholes provide better heat extraction rates per meter during the heat pump heating cycle, at the same time, it reduces heat rejection rates during the heat pump cooling cycle. The objective of this paper is to analyse and evaluate benefits and downsides of a new approach in the heat pump system design with deeper borehole heat exchangers of up to 300 m, comparing it to the traditional design of double-loop exchangers with 100 m depth. The geothermal borehole grid design simulation model, along with heat extraction and rejection, is performed on a yearly basis. The results are showing that the benefits of shallow geothermal boreholes, from the hydraulic and thermodynamic point of view, still dominate over deeper solutions.