The answer: it depends. This is because a number of factors together influence the cost of a new heat pump system. Pricing generally starts at around $3,500 and goes up from there, depending on the system type, size, and equipment installed.
Heat Pump Pricing: Factors to Consider
There are two general heat pump system types: ductless and ducted. Ductless systems use an outdoor unit and one or more indoor units to deliver heated and cooled air to particular areas inside the home. Ductless systems can be less expensive to install, though pricing does go up as you install more indoor units. Ducted heat pump systems use ductwork to distribute heated and cooled air throughout the home and are generally more expensive to install.
Of course, system size is another major factor to consider. Many homeowners here in Maine choose to install ductless heat pump systems. Some install a single indoor unit in their living room or kitchen area, which costs around $4,500. Others install multiple indoor units throughout the home — one in the main living area and one in each bedroom. Systems with two indoor units typically cost between $7,500 and $8,000. With every indoor unit you add to your system, you can expect the cost to go up.
Every heat pump manufacturer offers a wide range of products, each with its own sizing and efficiency ratings. Higher efficiency units come with a higher initial cost — though they offer greater energy savings in the long run.
Save on a New Heat Pump with Efficiency Maine Rebates
Here in Maine, Efficiency Maine offers valuable rebates for homeowners and businesses who wish to upgrade to an energy efficient heat pump. Homeowners can receive a $500 rebate on their first indoor unit and an additional $250 for a second indoor unit. Businesses can receive up to $1,250 depending on the system size.
Schedule a Free Site Visit & Discuss Your Options
Ultimately, the best way to find out how much a new heat pump will cost is to get an estimate from your local heat pump expert. At Goggin Energy, we offer free site visits for our customers. During your site visit, we’ll listen to your needs and begin discussing which system options may be best for you. Then, we’ll design multiple heat pump system options that best suit your home. Every option will include details about benefits and pricing, so you can determine which option is ideal for you and your budget.