Heat pumps have been around for more than a century, but over the past few years they have surged in popularity. This is largely due to improvements that have made them one of the most cost-effective and energy-efficient forms of home heating. Another major benefit a heat pump has over a traditional heating system is that it can provide air conditioning in the summer. Unlike furnaces, boilers or electric heaters, a heat pump transfers heat instead of generating it. In the winter, an air-source heat pump extracts heat from the cold air outside and moves it into your home. During the summer, a heat pump moves the hot air from your home to the outdoors, cooling the space.
Let’s take a closer look at some of the reasons to consider a heat pump:
- They’re eco-friendly. Heat pumps are capable of lowering your home’s carbon dioxide emissions by around 40%. They are better for the environment than most traditional heating systems because they use clean electricity instead of fossil fuels to operate, therefore producing less harmful emissions.
- They can save you money. Heat pumps are extremely energy-efficient, which can lead to lower utility bills. According to the Department of Energy, most of today’s air source heat pumps use up to 50% less electricity than furnaces and baseboard heaters. A recent analysis estimates that the average household in Massachusetts and Rhode Island could save around $1,400 per year by switching from an oil furnace to a high-efficiency heat pump.
- They’re safe. With no flame, fossil fuels, or hot surfaces, a heat pump is generally considered to be a safer alternative to traditional heating methods. There is no risk of burns, carbon monoxide poisoning, or gas leaks with a heat pump.
- They’re good at temperature regulation. Heat pumps create a more consistent temperature in your home than most traditional heating and cooling systems. Heat pumps provide a “slow and steady” heat without much temperature fluctuation, unlike the intense blast of heat you typically get from a furnace.
- They can be easily installed. Traditional central air conditioning circulates cool air throughout your home using fans and ductwork. But, if your home doesn’t already have existing ductwork, installing a central air system can be expensive and labor-intensive. However, a ductless heat pump, often referred to as a mini split, can typically be installed in one day.
- They can be affordable to install. Due to their extreme energy-efficiency, there are many incentives available for heat pumps. There are federal tax credits for qualifying heat pumps, and heat pump rebates available in both Massachusetts and Rhode Island. You may even qualify for an interest-free loan to install a heat pump. Qualified Massachusetts homeowners can obtain no-interest financing for heat pumps through the Mass Save HEAT Loan program and Rhode Island homeowners who are replacing electric baseboard heat may be eligible for interest-free heat pump financing through the Rhode Island 0% Financing program.
With all of the advantages a heat pump can provide, it’s no wonder that heat pump sales have surpassed those of gas furnaces. As heat pumps continue to rise in popularity, you should consider whether they might be a good fit for your home. If you’re interested in interest-free financing for a qualified heat pump installation, visit our Heat Loans and AC Loans page, and don’t hesitate to contact us with any questions.