A heat pump uses about one-third of the electricity that an electric baseboard heater uses and can cost less than half as much to run as an oil or propane furnace. Heat pumps are able to do this because instead of creating heat like furnaces or boilers do they only move heat between indoors and outdoors. Interestingly, heat pumps are just air conditioners run in reverse, so instead of moving heat out of your home they move heat into it. Modern heat pumps have gotten so efficient that even when it is -15 °F outside they can still pull heat from the air and move it inside your home.
Heating and cooling technologies have advanced dramatically and air source heat pumps are leading the way. Air source heat pumps are a more efficient and cost-effective way to heat your home using electricity at a fraction of the cost of oil or propane. As an added benefit, during the summer months, these units are used to efficiently cool spaces. We will walk through in more detail what you can expect to save after installing a heat pump in your home.
Key Takeaways On Heat Pump Use
- Heat pumps use far less energy than heating alternatives.
- The most expensive way to heat your home is by using fuel oil, propane, and electric baseboards.
- Heating prices are going up quickly. A new heat pump will help ease the pain.
- If you use a Mass Save rebate you can get the savings of a new heat pump without having to pay for installing it.
How Much Will Energy Cost This Winter?
Energy prices are going up significantly in Massachusetts in 2023. Experts from the Massachusetts Department of Energy Resources estimate that we will pay as much as 73% more for heating oil and 55% more for electricity as two years ago. This makes it even more important to switch to an efficient heating system.
Winter Season Average Residential Heating Fuel Prices
Source: DOER Analysis
How much will a heat pump save me?
A heat pump will save you several hundred if not over a thousand dollars per year. Provide us with information on your home and we will send you free savings analysis for your home. Below we will show you what a typical Mass family will save.
Typical Massachusetts family home
- 2,000 square feet
- Oil furnace oil boiler
- Spending $2,250 on heating per year
- Installing a new 3-ton heat pump
Typical Massachusetts family savings
Source: Mass Save Heating Comparison
Assuming this family chooses to replace their whole heating system with a ductless air source heat pump, they will save as much as $600 per year and not pay anything to have it installed. See our guide for Mass Save rebates for more information or contact us and we will walk you through the process.