Know Before You Buy: Financial Considerations and…

Savings Potential, But First...

The Economics of Heat Pump Technology

The energy efficiency a heat pump provides has the potential to save considerable money over time. While this is good news, the economics of heat pump adoption encompass far more than reduced operating expenses. Consider the upfront costs of purchasing and installing your new equipment.

There are multiple features and considerations that drive the installed cost of a new heat pump. Understanding these factors will help you better understand the nature of your investment while ensuring that you end up with the equipment that best suits your needs.

Identify Valuable Savings

Go With Experience

When estimating cost, compare specifications, efficiency levels, warranties, and parts and labor. Model numbers and itemized parts and services make it easier to compare. An experienced contractor can help you with this – identify valuable savings, too. Rebates and tax credits can greatly reduce upfront costs.

You can find reputable and experienced contractors for your heat pump project through the Focus on Energy Trade Ally tool.

A good contractor will walk you through the various options affecting overall cost, while noting any additional needs that are specific to your home. These may include ductwork modifications, electrical upgrades, or air sealing and insulation.

Find a Trade Ally Contractor

Ask Questions

Be sure to voice specific concerns by having questions on hand when speaking with your contractor:

“Will I need upgrades to my electrical service? Will I need to hire my own electrician?”

“Do you know about available incentives? Will you help me apply for them?”

Refer to page 13 of our Electric Heat Pump Customer Buying and Operation Guide for more questions and tips. The right prompts will help your contractor provide you with an accurate estimate while ensuring that your new system is correctly designed and installed.

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