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Do Heat Pumps Save Money?

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Will a Heat Pump Save Me Money?

Heat pumps are a great option for someone looking for a unit to both heat and cool their home!

What Is a Heat Pump Anyway?

A heat pump is a pretty cool piece of equipment. It is capable of both cooling your home in the summer and heating your home in the winter.

It looks pretty much identical to an air conditioner but utilizes an air handler to move air throughout your home. A heat pump is a type of forced air HVAC system.

Some customers have a gas furnace as well that they use for “emergency heat” in the winter as heat pumps are designed to heat a home as long as the temp is above 30 degrees outside.

Heat pumps work by moving warm air from one place to another. In the summer it moves the warm air out of your home, and in the winter it moves warm air into your home.

Even when it is cold outside, heat energy is still present!

By moving heat instead of generating heat, it can be a cost effective alternative to heating.

Can a Heat Pump Save Me Money?

This really depends. Although you can certainly save money on fuel consumption in the winter, a heat pump will use a bit more electricity than a standard furnace and air conditioner as it is both cooling and heating your home.

Also, heat pumps are generally more expensive to install than a normal air conditioner as they are essentially a two-in-one system.

New heat pumps will generally run you anywhere between $4,500-7,000 depending on the size and efficiency of the unit that you choose.

Heat pumps efficiency is measured in SEER, just as with air conditioners as well as HSPF on the heating side. Generally, the higher the SEER rating, the more efficient the heat pump will be.

The overall savings you will have with a heat pump will largely depend on your personal heating and cooling preferences.

If you bundle up in the winter and keep the thermostat at a reasonable temperature you could see savings on your monthly energy bills. If you are looking to do a personal calculation, you can utilize this energy calculator.

Another great option if you are looking to lower your overall electric bill would be to have a variable speed blower motor installed in your furnace or air handler.

Free Estimates!

Looking to get a free, no-obligation estimate on a new heat pump installation? We would love to help! Give us a call today at 614-475-1800!

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