I think it works better in large scale, since the heat loss depends on the surface of the storage, while the capacity is dependent on volume (mass). The bigger the storage the better the ratio.
But i have good news as well. You don't need expensive evacuated tube collectors usually to charge this kind of system. Even low performance collectors are suitable, since you dont need high heat, or insulation, but big collector surface. This is because it will be charged mostly in summer, so the insulation is not critical. Also lower grade heat can be used if a smart charging system can be used. (if the inner boreholes are warmer than the current imput, we can charge the outer, colder boreholes.)
Imagine a poly tunnel type
greenhouse, with a really shallow
pond inside, like 1 cm deep, lined with black material. And on top of the
pond swims a transparent insulating material, like clear bubble wrap. From my
experience with similar low tech stuff, i predict on my location the
water can reach up to 90C temperature. This is with a collector that has material cost in the 20$ /m2 range. This collector could charge the mass ideally in summer months, and do a fine job late spring and early fall. The problem with this nice set up is it wont work winter time.