A homeowner turned to Reddit to find out whether they'd really save money by switching their HVAC units to a heat pump, and the commenters delivered with a resounding yes — plus some tips and tricks to maximize their money.
The scoop
In the r/hvacadvice subreddit, the homeowner laid out the details of their setup, including that they are located in Maryland and have a 3,000-square-foot house with a 500-gallon tank for oil heating. They said their HVAC tech recommended a heat pump to save money and use the oil heater on really cold days.
"He quoted me $8000 for the install. I spend about $2500 a year on oil, give or take a few hundred. I think I will save money overtime, but I'm not sure because we do have some very cold days and I don't know the electricity cost for the heat pump," they explained.
One person replied to the question with an enthusiastic "yes you will save so much money. If you live in Montgomery County, there are special incentives for this. Otherwise, there is the IRA credit (tax credit), and likely utility credits."
💡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.
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How it's helping
Heat pumps are growing in popularity thanks to their efficiency, which saves homeowners money in the long run. The U.S. Department of Energy says that a heat pump can reduce your electricity use for heating by 75% as well as dehumidify better than standard air conditioning, resulting in greater cooling efficiency during the summer. According to Carbon Switch, installing a heat pump could save the average homeowner $557 per year on their utility bill.
They also help lessen the need for dirty energy. According to the International Energy Agency, heat pumps cut greenhouse gas pollution by at least 20% compared to gas furnaces.
And as the excited commenter mentioned, there are tax rebates and incentives available, especially through the Inflation Reduction Act that can help offset the upfront costs, which usually run on average between $4,000 and $8,000.
It's best to work with professionals to find the right heat pump option for your home, and you can find them through EnergySage's Heat Pump Marketplace. It can connect you with trusted installers and contractors as well as guide you through the benefits that will offer the most savings.
It should be noted that the incentives offered through the IRA may not always be available. President Donald Trump promised back on the campaign trail his intention to repeal the law and its benefits, per Reuters. Repealing the IRA would require an act of Congress, and while there hasn't been mention of any specific plans yet, it may be to your benefit to act on the incentives sooner than later.
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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 💰 What everyone's saying
Many people highlighted the benefits of heat pumps in the comments.
One person noted they live in a similar area to the original poster and were satisfied after making the switch to a heat pump. "I just did a communicating inverter heat pump, air handler, thermostat and all new duct work on my home. I don't regret it one bit! This summer I had one month save me 42% in year over year electricity cost," they shared.
Another person who installs heat pumps themselves agreed with the recommendations. "I install them all the time in my area. I have them in my home, my moms home, my brothers home, etc. etc. I'm north of you for reference by about 3 hours. Hope this helps and keep going," they said.
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