Should you buy a Heat Pump?
Consider adding this money-saving unit to your home
Yellowstone Valley Electric Cooperative
Thanks to money-saving incentives, heat pumps are gaining popularity in the United States. Despite the name, a heat pump can both heat and cool your home, taking the place of your furnace, air conditioner, or both. And because heat pumps don’t directly burn fossil fuels, installing one reduces both your carbon emissions and your monthly utility bill.
WHAT IS A HEAT PUMP?
Most heat pumps look like a large air conditioning unit that is fixed to the outside of your home. The pumps have both an outdoor and an indoor component and keep your home comfortable by moving warm air into your home in the winter — and out of your home in the summer.
DO HEAT PUMPS WORK WHEN IT'S COLD OUTSIDE?
Most heat pumps extract heat either out of the air or out of the ground to heat a building. And, yes, heat pumps work even when it’s cold outside. One type circulates a refrigerant that’s colder than the outside air, allowing the pump to extract even the smallest amount of heat from the outdoors and transfer it into your home. So, while they will work harder — and use more energy — in a place like Alaska versus Texas or Georgia, they can still collect heat in very cold temperatures.
IS THE TAX BREAK FOR INSTALLING A HEAT PUMP WORTH IT?
If your furnace or air conditioner is nearing the end of its useful life, the answer is yes. Heat pumps are already cost-competitive with those systems and offer monthly energy savings. Combined with the incentives included in the Inflation Reduction Act of up to $8,000 for low-income households and $2,000 for higher incomes, getting a heat pump is both cost-effective and environmentally friendly.
I’M READY TO BUY A HEAT PUMP. WHAT’S THE FIRST STEP?
You should first look for a reputable contractor who is familiar with heat pumps. The next step is to get several estimates to determine the right system for your situation. Depending on the size of your home, where you live and other factors, the most efficient type of heat pump will vary.
Visit www.yvec.com for more information.
