The heat pump movement is officially here to stay. The do-it-all HVAC system is outselling gas furnaces once again, as Canary Media reported.
Best of all, the government will give households up to $10,000 to upgrade to the futuristic tech through the Inflation Reduction Act.
Yet these benefits may not be available for much longer. President-elect Donald Trump has declared he "will rescind all unspent funds under the misnamed Inflation Reduction Act." So while it's too early to predict an end date, the benefits may not last much longer.
So what do you need to know before joining millions of Americans making the switch?
First of all, the "heat pump" moniker is misleading. That's because heat pumps actually cool and heat households by transferring heat, as opposed to generating it. That means they operate more like a refrigerator than conventional heating and cooling units.
💡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.
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On a cold day, they use electricity to transfer heat from the outdoors to the indoors, using heat from the ground, water, or air outdoors to make your home warmer. In the summer, heat pumps move warm air out of your house to the outside. All of that means more efficiency than conventional HVAC units, and outperformance in meaningful ways.
A report from the National Renewable Energy Laboratory found heat pumps could reduce energy usage in most households by up to 50%. That would translate to annual savings in a median range of $300-650.
Another benefit is heat pumps don't burn dirty energy like gas furnaces, which lowers the amount of carbon pollution going into the air outdoors or even indoors.
Those factors are probably why heat pumps outsold gas furnaces for the second straight year, as Canary Media noted. The gap is also widening between the two.
The momentum should continue to grow as more consumers become aware of unlocking the available savings through the Inflation Reduction Act.
🗣️ 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
All households can get up to $2,000 off a heat pump through the legislation. For low-income households, an additional $8,000 is available. Considering the average up-front investment falls in the $4,000-$8,000 range, those rebates are critical for many to get onboard and tap into the long-term benefits.
To make the process even easier, EnergySage's Heat Pump Marketplace is here to help. EnergySage's free tools and quotes allow consumers to shop for the most competitive deals in their area and navigate the rebates on offer.
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