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HOW DO HEAT PUMPS SAVE MONEY? |
When heating, it will always be more efficient to capture heat in the air, rather than buying and burning fuels from the marketplace. In the end, it's about how much money it will cost to heat your home. With heat pumps, you are not buying a fuel but the electricity to capture and move heat, which is freely available in the air. Given there are only three small electric motors in use with a heat pump, we can see how claims of 200% to 300% efficiencies can be achieved. That is, for every dollar of electricity you put in, you get $2-$3 of heat. |
The strategy with heat pumps is to use it as the main furnace, with the expensive exisiting oil and gas furnaces used only as the backup on the few days a year when the air is too cold to provide all the heat required. The above table outlines the annual operating costs of a heat pump integrated into your existing oil furnace. Operating costs for adding on a heat pump to a natural gas furnace are very similar or less, due to the fact that natural gas is currently a cheaper fuel. |
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