What is the ROI on a heat pump?

The bottom line is that you need a new HVAC system and a heat pump offers both long-term savings on your bill and a cleaner source of energy for your home.

At a glance:

• The amount you’ll save depends on your current HVAC system, home size, and other factors. Book a consultation with Tetra for an estimate specific to your home.
• Switching to a heat pump comes with a variety of benefits beyond saving money on your energy bill, including: year-round comfort, longer lifespans, and reducing your carbon footprint.
• You can still enjoy some financial gains even if you sell your home or replace a system that still functions properly.

If you’re thinking about switching to a heat pump, you’ve probably spent a considerable amount of time researching the costs and if the savings are worth it. The exact amount you’ll save depends on so many factors like the size of your home, the cost of electricity where you live, and the output of your current system. Book a free consultation with Tetra and we can help you find out more.

Beyond the savings on your power bill, it’s also worth considering the amounts you’ll save in labor and maintenance through Tetra’s 10-year warranty and the environmental benefits of adopting an HVAC system that uses clean energy.

What are the benefits of a heat pump?

1. Year-round comfort: Heat pumps offer both heating and cooling in one high-tech, energy-efficient system.  This means that a heat pump can keep your home cool during the summer heat and warm during the coldest days of winter.
2. Annual savings on your power bill:  Unlike traditional fossil fuel systems, heat pumps don’t generate their own heat. They simply move heat from one place to another. For this reason, heat pumps use significantly less energy, resulting in lower energy bills for you and a safer form of heating and cooling for your home. The Department of Energy estimates that the average household can save $500 a year with a heat pump.
3. Lower maintenance: The annual cost of maintenance for a fossil fuel system can be upwards of $200 a year. With a heat pump, you can expect significantly less maintenance because they have fewer mechanical components than furnaces or central air conditioners and they also don’t combust fossil fuels.. By working with Tetra, you can save even more money on maintenance because all labor and maintenance is free for 10 years. Now you can say goodbye to increasing labor costs or surprise expenses
4. Better for the planet: Heat pumps run on electricity and produce 75% fewer carbon emissions than your typical gas boiler. So you can rest assured that you are reducing your carbon footprint significantly by making the switch to a heat pump.
5. Financial incentives: There are plenty of government rebates to help cover the costs of purchasing and installing a new heat pump through programs like Mass Save or energy providers like ConEd or PSEG. You’ve already funded these benefits through paying your electricity bill, so you may as well take advantage of them.
6. Longevity: The average lifespan of a heat pump is 18 years, which is 30% longer than that of a traditional AC system. This is also something to consider when looking at the return on investment of a new heat pump.

What is the ROI of a heat pump?

The department of energy estimates that the average household can save up to $500 by switching to a heat pump. The exact amount you’ll save depends on so many factors. The size of your home, the cost of electricity in your area, and the type of fuel and age of your current system are just a few pieces of the equation.

Plus, a heat pump can keep your home comfortable all year, lower your carbon footprint, and even enjoy air conditioning in your home for the first time.

Are heat pumps a good investment?

We get it, switching to a heat pump is a big decision. Let’s talk about some common considerations and how to navigate them.

You plan to sell your home soon.‍

If you’re concerned that you won’t keep your home long enough to enjoy the return on your investment, think again. Installing a heat pump can actually increase the value of your home by up to 3% due to its energy efficiency, environmental benefits, and cost savings. This means you can still enjoy the financial advantages when you sell your home.

Your current system still has life in it. ‍

While this may be true, an older inefficient system can cost you around 25% more money on your power bill. That’s in addition to the fact that  older systems typically require more frequent and costly maintenance visits as they age. With a heat pump through Tetra, you’ll save money on your power bill while also never paying a dime on maintenance for 10 years. If you’re considering putting another $500 into your older fossil fuel system, you could be putting that money toward a new heat pump that will ultimately lead to a significant amount of savings in the future.

Are heat pumps worth it for my situation? Let’s find out

The experts at Tetra are ready to help you experience all the benefits of a heat pump. All you have to do is schedule a free consultation today to get your free virtual estimate.