Get a quick estimate on how much you could potentially save in heating cost by switching from a furnace or other heating system to an air-source heat pump with our heat pump savings calculator.
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Frequently Asked Questions
How much will I save with a heat pump?
Savings depend on your existing heating system, local fuel costs, and climate. Generally, transitioning from electric resistance heating or oil can result in substantial savings.
How can I save money when buying a heat pump?
Look for government rebates like the Canada Greener Homes grants, tax incentives, seasonal promotions, and compare quotes from multiple installers.
Are heat pumps financially worth it?
Yes, especially in areas with milder winters and when replacing older and less efficient heating systems. Also the better insulated your home is, the more efficient and effective a heat pump will be.
How can I save money with my heat pump in the winter?
Use a programmable thermostat, maintain the unit regularly, and ensure your home is well-insulated.
Is it cheaper to heat or cool with a heat pump?
Heat pumps are generally more efficient at both heating and cooling, although heating is where they really shine compared to traditional heating methods. While most heating systems max out at close to 100% efficiency, heat pumps can achieve heating efficiency of 300% or 400% because they are moving heat energy rather than burning fuel to extract it.
Is a heat pump worth the extra cost?
Yes, in the long run, due to operational savings, especially when replacing less efficient systems, and especially if you take advantage of government rebates to offset a portion of the initial cost.
Do heat pumps save money in Canada?
Yes, especially in milder coastal regions, but modern models can make them effective across most of Canada. Savings vary depending on local fuel costs and existing systems, as well as your own home’s layout and insulation levels.
How much cheaper is heat pump vs electric heating?
Heat pumps can be 2-3 times more efficient than traditional electric resistance heating.
How much cheaper is heat pump vs oil heating?
Depending on local fuel prices, heat pumps can be significantly cheaper, often resulting in a 30-50% reduction in heating costs.
How much cheaper is heat pump vs natural gas heating?
Heat pumps are often cheaper than natural gas heating in the longrun, especially as the carbon tax may continue to raise the overall cost of fossel fuel heating. However because natural gas can generally be relatively cost effective compared to oil or electric heating, you may or may not save as much when switching to a heat pump from natural gas.
How much cheaper is heat pump vs propane heating?
Heat pumps are generally cheaper to operate than propane systems, especially in areas with higher propane prices.
Will the carbon tax in Canada make heat pumps more cost-effective?
Yes, as carbon taxes increase the cost of fossil fuels, heat pumps become a more cost-effective heating option.
What is the cheapest way to heat a house in Canada?
This depends on local energy prices, but natural gas is often one of the cheapest heating options in areas with access. Heat pumps can be competitive however, especially in well-insulated homes and regions with milder climates..
Are heat pumps energy efficient?
Yes, heat pumps are highly energy efficient, often providing 2-4 units of heat for every unit of electricity used.
How to apply for heat pump rebate?
Check with local utilities, provincial programs, or federal incentives. They usually have online applications and guidelines on qualification criteria. You can also consult our network of Certified local HVAC contractor partners who can provide estimates and help you qualify for any available government rebates.
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