On average, how much do homes who make the switch to heat pumps save per year?
Answer: $300
According to the U.S. Department of Energy, the best option for most homes is an ENERGY STAR, variable-speed air-source heat pump. And when installed, these homes save an average of $300 per year between their heating and cooling bills. If you think that’s impressive, the DOE also estimates that homes in colder climates — like that of Minnesota — switching from propane or electric heating to their best heat pump options can save an average of $1,500 annually!
Even if you already have a heat pump and are just looking to upgrade, you can still expect savings on your utility bills. Technology continues to evolve and advance, and the latest pieces of equipment are some of the most energy-efficient models out there. And when combined with the 2025 tax credits and rebates, there’s never been a better time to upgrade and save.
To discuss the best heat pump (or furnace!) options for your home and wallet, get in touch with Joel Smith Heating and Air Conditioning today by calling (763) 792-1066 or by sending us a message online.