In a new report, researchers confirm that upgrading your home's heating system can pay off both environmentally and economically.
A study, by the U.S. Department of Energy's National Renewable Energy Laboratory and published in the journal Joule, says heat pumps can help homeowners be more energy-efficient and reduce costs.
Unlike traditional heating and cooling systems that often use dirty energy sources, heat pumps offer a more energy-efficient way to keep homes warm in winter and cool in summer. Heat pumps work by moving heat in or out of your house instead of creating it, so they use less energy. In the winter, they pull in heat from outside to warm up your home, and they push heat out to keep things cool in the summer. So, heat pumps just move existing heat around, which saves energy and money.
Using simulations of 550,000 representative households, researchers evaluated the impact of heat pumps on energy use, cost savings, and harmful gas emissions. Their results show that heat pumps have enormous potential to reduce energy costs and environmental impact, especially when paired with home upgrades like improved insulation.
On average, heat pumps can save homeowners up to 47 percent on energy bills, helping people save money while also reducing pollution. And with natural gas prices on the rise, heat pumps are becoming an even better option.
"There are millions of people who would benefit from putting in heat pumps, and there are incentives made available through the Inflation Reduction Act, both tax credits and rebates, that millions of households can benefit from," Eric Wilson, lead author of the paper said.
The Inflation Reduction Act allows homeowners to take advantage of federal incentives, like tax credits and rebates, to make heat pumps more affordable. Companies like EnergySage make the process even easier by offering a heat pump marketplace, which helps homeowners choose the best option for them.
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