As the cost of electricity and natural gas continues to rise alongside environmental concerns, homeowners are increasingly turning to heat pump style heating and cooling units for relief. Could an air or ground-sourced heat pump system be right for you?
Factoring In Savings
Sales of heat pumps have increased annually since 2016, with customers who’ve purchased ground-sourced heat pumps enjoying especially impressive savings. Reports show savings of $1,000-1,500 annually over propane, with year-to-date savings for some early ground-source customers equating $40,000 – a payback over twice the cost of installation.
Doing the Math
Will the math work for you when it comes to heat pump installation? Air, ground, and water-sourced heat pumps can be used to provide 100% of your home’s heating, cooling, and dehumidification. They are an ideal choice for those without access to natural gas. Compared to systems operating on oil and natural gas, operating a heat pump costs about 2-3-times less, providing significant savings. To determine if a heat pump system is right for your home, heating companies will consider:
- Does your home have access to natural gas, propane, or oil?
What is the cost per BTU of heat pump versus fossil-fuel based heating system?
- Is access to the ground feasible?
Air-source heat pumps work best for small homes with open floor plans, as well as settings such as multi-family housing and high rises with limited access to the ground for ground-source heat pump installation.
- What is the cost savings?
Geothermal (ground-sourced heat pump), for instance, offers more significant savings than propane-based heat. For electric, it’s straight-forward: A ground-sourced heat pump offers 5-times the efficiency of electric resistance heating.
- Could a dual-fuel system offer a more cost-effective option?
In a market with prevalent natural gas, a dual-fuel air-source heat pump may offer a more cost-effective solution to ground-source heat pumps. However, in areas that don’t have natural gas access, a ground-source heat pump may come out on top.
- How will climate affect operation?
In climates where the bulk of the winter temperatures are less than 55°F, ground-sourced heat pumps or dual fuel systems may offer more efficient performance. Because heat pumps do as their name suggests, moving heat from one source to another, there comes the point where an air-source heat pump can no longer provide the heating necessary to maintain a comfortable temperature.
- How big of a priority is carbon footprint for homeowners?
With geothermal/ground-sourced systems, though the initial cost of installation is greater, heating and air conditioning bills, energy usage, and carbon emissions are more dramatically reduced, safeguarding the earth and quality of life for future generations.
Warm up to the latest heating and cooling technology. Uncover your ideal heating and air conditioning solution with the help of the home comfort pros at H & H Heating & Air Conditioning today.