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It depends mainly on your electric rates. From a cost-benefit perspective, if your electric rate (cost per kWh) are less than $0.20, we recommend a 2-speed pump. Other factors to consider are how many water features (e.g., fountains, waterfall, etc.) will your pool have? What kind of pool cleaner will you use - robot or pressure-side? If pressure-side (e.g., Polaris-type) will you run it off the main pump or will you get a booster pump solely for the cleaner? If you have all of these features and want maximum control over them, a variable-speed (VS) will give you that flexibility.
Another consideration is that 2-speed pumps are a simpler design. They do not contain all the electronic controls that a VS pump has. Long Island can get its share of thunderstorms during the summer and if lightning strikes nearby, there always the risk that it could fry the electronic controls. This can be mitigated by getting a surge-suppressor for the VS pump - you just need to factor that into the cost.