Main factors affecting the cost of heat pumps
The average cost of a new heat pump is $6,070. Some of the main factors that affect the cost of buying and installing a new heat pump include the type of heat pump system you choose, its energy efficiency, the size and capacity of the pump, labor costs, and the climate where you live. Here’s a closer look at how each of these variables affects the overall cost.
Type of heat pump
Some types of heat pumps function in slightly different ways and often have vastly different price tags. The cheapest option is typically the ductless mini-split heat pump, which ranges from $1,300–$8,000, while the most expensive option is a solar energy heat pump, which ranges from $18,000–$39,000. The pump brand and the model can also influence the price.
Energy efficiency
More energy-efficient heat pumps use less energy to heat and cool your home. When buying a heat pump unit, it’s important to consider two main efficiency metrics: seasonal energy efficiency ratio (SEER) and heating seasonal performance factor (HSPF).
Generally, heat pumps with higher SEER /SEER2 (cooling efficiency) and HSPF/HSPF2 (heating efficiency) cost more to install. But they’ll often pay for themselves thanks to lower energy costs. Pumps with higher efficiency ratings might also garner better tax incentives or rebates versus less efficient models.
People living in warmer climates should pay attention to the SEER. Homeowners in cold climates should look for a higher HSPF rating.
Size and capacity
Finding the right size heat pump for your space can help you save more on energy and increase the life expectancy of your pump. Heat pumps that are bigger and have higher capacity tend to cost more than those that are smaller and have lower capacity.
As a rule of thumb, you’ll need one ton of air conditioning capacity for every 500 square feet of your home. So bigger homes with more square footage will require a larger pump and cost more money. For instance, if you have a 2,000-square-foot home, you’ll need a pump with four tons of capacity. A 3,000-square-foot home will require six tons.7
Reach out to a local heat pump professional if you need help figuring out the size of the unit that’s right for your home.
Labor costs
Labor costs vary between pumps, as some are harder to install than others. Important factors that affect the cost of labor include:
Ductwork: Heat pumps that are simple and easy to install, like the ductless mini-split, generally cost less. But heat pumps that require ductwork installation often take more effort and come with a higher cost.
Expertise: The cost of labor for certain types of heat pumps, like geothermal systems, is generally higher because installation is more complex. These pumps have to be buried at least four feet underground and require a higher level of skilled labor.
Time: How long it takes to install the unit can also affect the cost. On average, heat pump installers charge $75–$125 per hour.
Location and climate
Different types of heat pumps are better suited for warm or cool climates. A basic model is likely adequate if you live in a warm region. But if you live in a location with cold temperatures, you’ll need to look for a heat pump that’s rated to withstand your region’s coldest nights.
In general, geothermal heat pump systems perform better in more extreme climates than air-source heat pump systems. You can find cold-climate heat pumps that can work down to 5°F. But these heat pumps typically come at a premium cost.
)
)
)
)
){kind=small}
){kind=small}