Ten years ago, more people were buying gas furnaces than heat pumps — even though heat pumps are more efficient, more comfortable, and they can heat and cool a home. But now, not only are more heat pumps installed than furnaces, but 9 out of 10 heat pump owners would recommend them to others.
That's according to new data from Mitsubishi Electric, a leading heating and cooling manufacturer that was actually the first company to sell heat pumps in the U.S. over 40 years ago. Heat pump technology has advanced a lot since the '80s, but Mitsubishi Electric's mindset has stayed constant.
"We believe strongly that prosperous communities and personal comfort go hand in hand," Patty Gillette, Mitsubishi Electric's senior director of marketing, told The Cool Down. An all-climate heat pump is, she said, "not only making you more comfortable where you live, but it's better for your neighborhood and for our environment in general. I know it sounds like apple pie … but that really is our reason for being."
In a recent interview, Gillette walked us through the unexpected discoveries in the new heat pump survey — as well as the nitty-gritty on how Mitsubishi Electric can help customers find money-saving HVAC options for their unique home setup.
💰 How ultra-efficient HVAC helps homeowners save money
Heat pump technology has gotten so good that a single unit can typically reduce your HVAC system's electricity use by as much as 50%, according to the U.S. Department of Energy. That uber-efficiency is because heat pumps move heat around, rather than creating it, to keep your house cool in the summer and warm in the winter.
"These systems are so much more efficient than the most efficient furnace or boiler is," Gillette said. And Mitsubishi Electric's models are all-climate heat pumps, meaning the "newest systems work 100% down to negative 10, and they don't cut out until negative 22 degrees. It's very unusual to find a place in the United States where these systems don't work."
Plus, as energy costs around the country continue to rise due to inflation and other factors, having an energy-efficient system makes an even bigger difference.
For example, in Mitsubishi Electric's newest survey, 93% of respondents with a traditional HVAC setup (not a heat pump) say they are concerned about their utility bills. Over 60% said their heating costs rose last winter — and the same for cooling costs last summer.
👀 More surprising results from the national survey
The 2024 Heat Pumps & Homeowners Index, commissioned by Mitsubishi Electric, surveyed over 1,000 U.S. homeowners and found an overall positive opinion of heat pumps.
The biggest takeaway is that 90% of heat pump owners would recommend one to others. The three main reasons they gave were greater energy efficiency, better heating, and greater cost savings.
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Which of these factors would most effectively motivate you to buy a heat pump? Click your choice to see results and speak your mind. |
Lower energy bills 💰 But you might also be surprised to learn about these other factors when it comes to installing a heat pump:
📈 Increased home resale value: Of the top reasons to install a heat pump, 39% said they would consider getting a heat pump installed to improve the value of their home.
🌳 Better for the environment: Because heat pumps are more efficient and can run on renewable energy like electricity generated from wind and solar, they're a great way to help the planet. And more and more people are recognizing that. Case in point: A majority of these survey respondents find sustainability moderately or very important to their home improvement decisions.
🔧 Contractors play a huge role: 82% of homeowners said their HVAC contractor was somewhat or very influential when investing in a heat pump.
Gillette told us that HVAC is a "not-at-all sexy category," especially when you could be talking about kitchen renovations or new flowers to plant instead. "People don't like to talk about heating and air … so contractors really do still have a big role to play here," she said, in helping homeowners know what heat pump to invest in and how to save money when making the switch.
🤝 How to find a trusted HVAC contractor
When making a home renovation update like switching to a heat pump, it's crucial to have a contractor you can trust.
"We work really closely at Mitsubishi with contractors to increase awareness of both the technology [and] to train them so they know how to install the systems correctly," Gillette said. "I think that makes a huge difference."
Gillette's pro tip to homeowners: Do some research beforehand, making sure to choose a contractor who has lots of experience installing all-climate heat pumps. Even just a Google Reviews search or talking to others in your community would be helpful before signing a contract.
📈 Why heat pumps have become so popular these days
Beyond the fact that heat pumps are three times more efficient than gas furnaces and can save you up to $1,000 on yearly energy bills, this technology has become increasingly popular in the past few years because of how much more comfortable they make homes, especially if you have rooms with a hot or cold spot.
Single-zone wall units, also known as mini-splits, can solve that problem: "I think people want to be comfortable. Our planet is getting hotter. Window units are difficult for older people. They're ugly. So this is certainly an option — it's here to stay."
Mini-splits are the bread and butter of what Mitsubishi Electric installs, and customers may even be eligible for a $2,000 federal tax credit for installing them.
"The way the tax credit has been working made [it] really advantageous, because if you put in one unit this year, you'd get a $2,000 credit next year, and then next year you put another unit. I know a bunch of people who've done that," Gillette mentioned.
She also noted that the pandemic galvanized many homeowners to make the switch to heat pumps. People were using the spaces in their home differently (ex: an attic becoming a home gym, a spare bedroom becoming an office) and they needed easy solutions for room-by-room comfort. With mini-splits, each person can control the temperature of the space they're in.
"We almost couldn't keep up with the [heat pump] demand at that time," Gillette said.
💡 Political headwinds and why heat pump technology is here to stay
As of this article's publication, certain heat pumps qualify for a $2,000 tax credit — and some homeowners may be eligible for up to $8,000 worth of savings. However, the future of these tax credits is uncertain given the shifting political climate under President Donald Trump, who has said he eventually wants to cut funding to the Inflation Reduction Act, which would require an act of Congress.
"If we lose the $2,000 tax credit, I think that'll be a disadvantage," Gillette said. "We have enough momentum to overcome that, but it will just be slower adoption."
Bottom line: Highly efficient HVAC technology, especially heat pumps, saves people money, helps them live more comfortably, and improves the environment around us. The tech is here to stay, with or without tax incentives.
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