Air and ground source heat pumps continue to grow in popularity as local and state governments offer renewable energy tax credits and pass energy standards. Sales of air source heat pumps grew 14.8% in 2016, 19.% in 2017, and 9.1% in 2018. Ground source heat pump sales grew 37% from 2017-2018, with many homeowners taking advantage of reinstated federal tax credits for geothermal at this time for the chance to reap thousands in energy savings annually. Are you considering heat pump system savings?
Heat pumps can be used for 100% of the heating and 100% of the cooling in single-family homes in many climates. Tremendous savings are possible with heat pump systems compared to oil or propane-powered heating units, which cost two-to-three times more to operate.
With a geothermal heat pump, substantial cost savings can be realized: $1,000-1,500 a year versus propane, enough to pay for the system many times over. Geothermal efficiency outshines electric resistance heat, which has a straight ratio of 1 coefficient of performance (COP). Geothermal offers a COP of 5, versus a COP of 3 for air-source models, making it five times more efficient than electric resistance heat. (The higher the COP, the lower the operating cost.)
Where natural gas is available and more affordable than electricity, calculating cost per Btu may be necessary. In these areas, dual fuel heat pumps are popular, offering the best of both performance and efficiency, salvaging air source heat in moderate temperatures, and providing efficient natural gas-powered warmth when temperatures plummet below the point where heat pumps can maintain a comfortable climate in the home.
What is the ideal situation for a heat pump installation? Air source models work well in small homes with open floor plans, as well as in locations where a ground source installation simply isn’t possible due to soil conditions or a lack of space. Ductless systems, a form of air-source heat pump, offer superior efficiency. Ground source systems offer even greater savings, albeit at a higher initial investment cost.
Many municipalities and their residents want to reduce their dependence on fossil fuels and prevent high energy bills. This is where heat pumps shine. Because heat pumps repurpose energy from the air or ground rather than creating new energy, they can provide efficient heating as well as hot water without wasting energy.
This has led many city governments to decline investments in fossil fuel infrastructure in favor of installing geothermal heat pump systems. In efforts to curb environmental impact, some new developments are installing shared geothermal heat pumps, while in others, homeowners are joining together to purchase shared community systems for meeting heating and cooling needs.
Is a heat pump system for you? Let us help you do the math. Contact H & H Heating & Air Conditioning now for a competitive quote on today’s most popular heat pump systems.