A traditional HVAC is expensive to run, but a rising star on the heating-and-cooling scene — a heat pump — could help you save $1,000 on your annual energy bill. Better yet, households could receive up to $10,000 from the United States government to make the switch.
The scoop
Despite their name, heat pumps can keep your home at a comfortable temperature regardless of whether you need your environment hotter or cooler.
According to the U.S. Department of Energy, these remarkable devices transfer heat from one point to another. When your house is too warm, it moves heat outdoors to cool it down; when it is too cold, it moves heat inside to raise the temperature.
Because heat pumps don't generate heat, they are much more energy efficient than conventional HVACs, resulting in lower utility bills — if homeowners can spring for one. The upfront cost for one of these high-tech devices generally ranges from $4,000 to $8,000.
However, the Inflation Reduction Act offers various tax incentives and rebates for households to make energy-efficient upgrades that lead to significant long-term savings, from weatherizing insulation to smart thermometers to heat pumps.
Households that install a heat pump may be eligible for up to a $2,000 tax credit, while low-income households could receive up to an $8,000 rebate for the powerhouse device.
If you need help discovering which heat pump is best for your home, EnergySage's Heat Pump Marketplace can help you maximize your savings.
The company's free tools can connect you with trusted contractors and installers who know their stuff and won't pressure you to purchase.
How it's helping
Installing a heat pump isn't just a savvy move for your household's budget. If the electricity grid relies on dirty fuels (like much of the U.S. does), the devices' energy efficiency means they account for less planet-warming pollution than outdated and noisy HVACs.
Warming global temperatures have caused extreme weather events like droughts, floods, and tropical storms to become more intense, and research has connected pollution from dirty fuels like gas, oil, and coal to millions of premature deaths and debilitating illnesses every year.
💡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.
What everyone's saying
A growing number of households are adopting heat pumps, and it's easy to see why, with the IRA and EnergySage's online marketplace making the process simpler than ever.
"We had a massive heat wave a few years ago and needed to install A/C but opted for a heat pump so we could get more efficient heating and cooling," one person shared with The Cool Down. "I love that it's fast to cool or heat, super quiet and very efficient."
"If we didn't have EnergySage, we wouldn't have known where to start," one reviewer shared with EnergySage. "We had multiple conversations with installers to find the right fit at the right price."
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