With the ability to both heat and cool your home, heat pumps are growing in popularity. If you’re thinking about replacing your old furnace with one, you’re probably wondering whether it’s actually worth the hype. Proponents of heat pumps tout their superior energy efficiency and consistent comfort, but others complain that heat pumps come with hidden expenses. Here is everything you need to know about heat pumps before making the switch.
Initial Cost of Equipment
On average, heat pumps cost a few hundred dollars more than a comparable gas or electric furnace. However, because a heat pump can handle both heating and cooling needs, the overall investment is similar for homes that need air conditioning. This has contributed to the growing popularity of heat pumps in temperate and warmer climates. Heat pumps are also better for the environment, which means that you may be able to take advantage of government incentives to further lower your initial costs.
Impact on Energy Bills
The main reason to choose a heat pump is to lower your energy bills, and heat pumps deliver when it comes to efficiency. Heat pumps transfer heat from outside using a compressor, which uses far less energy than a traditional furnace that turns gas or electricity into heat. Switching from electric resistance heating to a heat pump can reduce your home’s electricity usage by as much as 65%.
Maintenance and Repair Costs
Both heat pumps and traditional furnaces require regular maintenance and may need occasional repairs as they age. Although heat pump maintenance and repair costs are slightly higher than those for a furnace, they can be less expensive compared to both a furnace and air conditioning system. Consider taking advantage of a maintenance program to save even more on routine maintenance and repairs for your heat pump.
Getting the Most Out of a Heat Pump
Heat pumps can slash your heating and cooling expenses, but you need to avoid some common mistakes that eat into those savings. If you want to get the most out of your heat pump, make sure you choose a system that’s the right size for your home. Another mistake that heat pump owners make is turning the thermostat up and down too much, which causes the less efficient backup coils to turn on. Keep your home at a consistent temperature to increase both comfort and efficiency when you’re using a heat pump.
Although many myths abound, a heat pump can be an efficient and effective choice for heating and cooling your home. Heat pumps offer lower energy bills, fewer repairs and more consistent performance compared to other HVAC systems. If you’re ready to invest in a more comfortable and efficient home, call Peak Home Performance for quality heat pumps in Colorado Springs, CO.
