Heat pump prices: How hot can they be?

In today's nomenclature, the word 'hot' might refer to things that we like and appreciate a great deal. Hot items can also be either something we can afford, not afford or not even ill-gotten gain. On which category heat pump prices would fall under however is something we’ll find out shortly.

Gas furnaces have been around for decades, and most people already are aware of the basics and associated costs of gas furnaces. For that reason, we’ll be mainly concentrating on the types and respective price of heat pumps in this article.

Air Source Pumps: This type of heat pump is the most commonly found and also has the most affordable price tag. There are two kinds of air-source heat pumps to choose from:

• Packaged Heat Pumps – They’re installed outside your home and use ductwork to provide necessary heat or cooled air to the appropriate parts of your house. Some packaged heat pumps are built for one-room-use only.
  
• Split-System Heat Pumps – With this type of air source pump, the indoor heating system is located separately from the outdoor heating system and compressor. This allows you greater freedom on installation but will naturally have a higher price tag. Some split-system heat pumps can also provide heated domestic water for household use. A free-delivery split-system heat pump, on the other hand, can allow separate control through thermostat.

Dual-Fuel Heat Pumps: With this type of heat pump, you can expect to make use of the benefits of both heat pump and gas furnaces. It works as a heat pump to efficiently provide heating for your home. During winter however, it will work like a gas furnace and can save more money on energy costs. You can expect the price to be approximately $600 - $1000 more, however, if you’re using this type of heating pump. You may be able take advantage of a home improvement loan to help you shoulder the price of dual-fuel heat pumps and rebates might be available from your local power company.

Geothermal Heat Pumps: Last but not the least is the most efficient of all heat pump types. Geothermal heat pumps are still relatively new to the market, and that’s why only few are aware of its existence, use, and benefits.

Geothermal heat pumps have rather expensive initial price, but such a price is immediately offset when one considers the durability, performance, and efficiency of the system. Geothermal heat pumps are also the most environmentally safe among all types of heat pumps. Lastly, geothermal heat pumps are extremely beneficial for people with respiratory problems because it can keep the air they breathe non-allergenic.

The End Results: Ultimately, homeowners usually have to decide between purchasing a heat pump or a gas furnace. Results from a comparative study made from up front cost and ongoing operational costs for heat pumps and gas furnaces however reveal startling results:

Gas furnaces that operate with moderate efficiency generally require homemakers to spend $804 on annual costs. For gas furnaces that operate with high efficiency, operational costs are at $660.

Heated pumps that operate with average efficiency have lesser operational costs at $526. You can save more however by using high efficiency heated pumps, of which operational costs are tagged at $443.

The winner in this study however is none other than geothermal heated pumps. Its average operational cost is estimated at $337, which is less than half of what you’d spend for normal gas furnaces. Although the initial installation price tag might be high, this system will pay for its self over time.

Now that you know how different types of heated pumps work, and how much you can expect to spend on them, which of the heated pumps are hot enough is up to you.