“The average cost of adding heat pumps to existing homes is about $14,000, according to estimates by Carbon Switch, a website analyzing electrification technologies. In smaller homes or condos, a single installed heat pump may cost as little as $3,500, and renters can even buy window units for $500 to $2,000.
But a more useful way to think about the expense is how much heat pumps cost compared to replacing conventional heating systems. After incentives, the difference may be just a few thousand dollars. You’ll save money over the long run since the operating costs are lower. Carbon Switch estimates heat pumps will shave anywhere from $100 to $1,300 off your utility bill per year, based on data from the National Renewable Energy Laboratory.”
Check out more information on heat pumps here.
In some cases, consumers may be eligible for rebate incentives on the federal, state, and even local level. This includes tax credits that are aimed to help boost sales and installation of heat pumps. While the initial investment might put some people off, the long-term savings and efficiency of heat pumps are well worth it.
If you’re in the market for a heat pump contact the professionals of Temperature Control Specialties at (317) 247-7663. We have several models available from Trane with efficient performance and cleaner air.