Are Heat Pumps Worth The Money?

Posted on: 2 January 2019


Thanks to a greater awareness of the need to protect the environment and rising energy costs, many people in the US are looking for more efficient ways of using energy in their homes. Many people end up looking at ways of reducing their heating costs because this is where the highest percentage of energy costs comes from in most households in the US.

One of the solutions that have been brought forward is the use of heat pumps. Heat pumps use a lot less electricity and can adequately heat homes; however, they command a high initial price. This prompts many people to ask the question, is it worth it? Consider these questions before consulting the best heating and air conditioning contractors.

What Heating Method Do You Use?

Before you decide to hop onto the heat pump bandwagon, it's important to first consider what you're currently using to heat your home. According to many experts, people who use mains gas to heat their water and homes may not see the drastic cost savings they may be looking for in the short term. However, those who use solid fuels, oil, liquid gas or electricity should be able to register some noticeable gains by switching to heat pumps.

What Does the Assessment Say?

Another important factor that many people fail to consider is that their property or their needs may not be compatible with the use of a heat pump. Before going ahead to install a heat pump, good heating and cooling contractors will perform an assessment. This assessment should tell you if heat pumps are suited for your property and the size of the heat pump that will be needed.

As many homeowners will find out, not all sites are well suited for the use of heat pumps, and installing one in such properties could be an unnecessary expense.

What Is the Payback Period?

Once you have established that heat pumps are a good match for your property, the next step is to calculate the payback period. This is the period over which the savings made are enough to cover the cost of installing the heat pump.

There are several reasons why this is important. These are:

  1. The payback period may be longer than the amount of time left before you move out of the property

  2. The payback period may be longer than the estimated lifespan of the heat pump

If these issues don't apply to you, you can start to view a heat pump as a viable investment.