For example, replacing electric baseboard heating with a heat pump can help you save 50% or more on your electric bill through the winter season. Do you use an air conditioner in the summer? If so, you’ll likely see savings through those warmer months, too, as your new heat pump pulls double duty and cools down your home.

Households heating with oil or propane can realize an average of up to 50% net savings annually when they switch to a heat pump.

Of course, as the saying goes, “results may vary.” In addition to your current system and type of heating fuel, actual savings depend on factors like the age of your home and how well it has been weatherized. A well-insulated and sealed home is critical to getting the most out of a heat pump. You’ll also want to make sure your new equipment is a match for your home’s square footage and layout.

To learn more about heat pumps and their potential savings, look to Focus on Energy’s Electric Heat Pump Customer Buying and Operation Guide.