Withglobal warmingbecoming an urgent issue, heating our homes efficiently – and sustainably – has taken center stage.
According to aCNET survey, 78% of US adults are stressed about rising energy costs.
If youre considering a heat pump for your home, cost is likely a top concern.
Many people assume heat pumps are expensive to buy and operate, but the reality may surprise you.
How much does a heat pump cost?
Typically, purchasing the system itself is going to be the largest cost that you will face.
But you might quickly rack up expenses the more elaborate the system is.
A commonheat pump optionis a ductless mini-split heat pump.
These are popular for their flexibility and efficiency, and can serve most standard homes.
Costs are kept low because there is minimal duct work that has to be done.
Ducted air-source heat pumps are another common option.
The price for these systems generally falls between $4,500 and $8,000, including installation.
How much does it cost to have a heat pump installed?
Air source pumps are common and can work with existing ductwork.
They involve installing an outdoor unit and connecting it to an indoor air handler via refrigerant lines.
Geothermal heat pumpsare the most expensive and the most elaborate to install.
In HVAC, you often get what you pay for."
What tax credits and rebates are available for heat pumps?
This credit applies to qualified equipment installed in your primary residence and includes costs for both equipment and installation.
Geothermal heat pumps often qualify for even more substantial incentives.
This can be particularly beneficial given the higher upfront costs of geothermal installations.
These credits apply to both new and existing homes and cover the costs of installation and labor.
Some states and municipalities may have other incentives available to homeowners to further offset the cost of heat pumps.
