You may have learned the hard way when paying your power bill that staying cool in the summer and warm in the winter takes a lot of energy.
There is a better way, and it's with heat pumps. More efficient than traditional heating and cooling systems, they can save you thousands on your utility bills over time. Plus, the initial price tag is now more discounted than ever.
The scoop
The magic of this HVAC solution is in its ability to move heat around. Unlike traditional furnaces, which burn polluting fuel sources like oil and gas to generate energy, heat pumps simply pull heat into or out of a home.
The science behind it — compressing and decompressing a refrigerant — actually creates more energy than the amount required to run the machines. That efficiency, combined with the fact that you only need one system for both heating and cooling, makes the right heat pump a powerful tool for any home.
How it's working
You might be thinking: That's all well and good, but this technology sounds expensive. How's it save any money?
While it is true that getting a heat pump setup can cost between $4,000 and $8,000, you don't have to pay all that anymore. Thanks to a tax break in the Inflation Reduction Act, homeowners can bank on getting $2,000 back.
An additional $8,000 rebate is also available for households that are below a certain income level. If you qualify, that means a heat pump could net you a total of $10,000 toward its purchase and installation.
Once it's up and running, your system will shrink your bills each month, reported the U.S. Department of Energy. Eventually, you'll break even on whatever initial cost was left, and from then on, it's all savings, all the time.
Pro tip: cut costs even further by ensuring your home is solidly insulated before installation, since you can then rely on a smaller, cheaper piece of equipment, according to the DOE.
🗣️ Which of these factors would most effectively motivate you to buy a heat pump?
🔘 Lower energy bills 💰
🔘 Better temperature control 🌡️
🔘 Helping the planet 🌎
🔘 I'd never buy a heat pump 🚫
🗳️ Click your choice to see results and speak your mind
What people are saying
All those benefits got you thinking? Take the next step and explore some deals with EnergySage's marketplace to find the right heat pump for your home and climate.
💡Save thousands with a heat pump
A heat pump can save you thousands of dollars in heating and cooling costs — but first you have to find the right installer at the right price.
Use EnergySage's free tool today to find local options, compare prices, and see how much you can save.
The Cool Down may receive a commission on signups made through links on this page, but we only promote partners we vet and believe in. For more cool tips like this one, check out our solutions list here.
If you live in a colder place and aren't convinced you'll stay warm, check out this breakdown from sustainable technology YouTuber Matt Ferrell. He explains how after recent innovations, heat pump systems work better than ever in freezing temperatures.
"My sister had a heat pump installed about four years ago. Last month, in our area of Canada, we had a temperature drop of -25 [Celsius] for a couple of days," wrote one commenter on the video. "She has never had an issue with getting heat."
"Convinced my parents to switch from propane to a pair of mini-split heat pumps at the start of this winter," said another. "It reduced their monthly heating cost by about half."
You can find similar savings and tax incentives for other appliances as well, from your oven and water heater to smart home gear. Try this free calculator to understand your home's eligibility.
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