does a heat pump save money

Does a heat pump save money?

Furnaces and air conditioners are not the only ways to heat or cool homes. There is, in fact, another option that combines the heating and cooling capacities of both systems, all while saving money and being environmentally friendly.

Heat pumps allow for financial savings and reduced energy consumption, which, for many, can be great reasons to switch systems. However, those considering whether or not to invest in one might wonder, ‘Does a heat pump save money?’.

Ultimately, the answer is yes, but if you’re interested in learning more about heat pumps and exactly how they can save money, read through this article. If you decide to install a new heat pump, consider contacting Smart Air’s team to help you through the process.

How do heat pumps save money?

The best way to understand the ‘how’ in the question, ‘Does a heat pump save money?’ is through understanding how the appliance actually works. 

Essentially, heat pumps save money by moving air instead of generating it. Heat pumps function very much like fridges, using refrigerant to absorb and remove heat from a given area. To cool your home, the pump then releases that absorbed heat outside. The lack of generated air means far less energy is used up. 

Additionally, much of the exhaust and many of the waste materials created from running a furnace or air conditioner are drastically reduced due to how heat pumps operate. The result is an eco-friendly and cost-effective system.

How to save money with electric heat in your home

Even though heat pumps still need to draw on the electricity that flows through your home to move the system’s refrigerant, the overall amount of electricity that a heat pump needs is far less than that of a furnace or air conditioner.

In other words, the answer to ‘How do you really save money with a heat pump?’ hinges on its lowered energy consumption. 

A typical heat pump only uses about 800 to 5000 watts an hour, leading to a rough cost of 98 cents per hour of use. On the other hand, a normal furnace can use anywhere from 2 to 10 times a heat pump’s energy, costing roughly $10 or more per hour.

Look to Smart Air for your heat pump needs

So there it is—the answer to the question ‘Does a heat pump save money?’

Heat pumps can reduce your utility bills by using less power, and are known for being environmentally friendly. Since no fuel is being burned, less energy is used and the amount of carbon released into the air decreases significantly. 

Though the exact amount you do save with a heat pump can vary depending on your previous system, the many benefits it offers has resulted in many opting to have one set up in their homes.

Looking to have a heat pump installed, repaired, or maintained? Contact Smart Air today!