At Kearney HVAC, we can speak for hours about the advantages and benefits of heat pump installation in homes throughout North Shore Massachusetts and Southern New Hampshire. However, we understand that one of the most pressing questions for homeowners is: How much does a heat pump cost?
If you’re interested in switching to an all-electric heating and cooling system for your home with a ducted heat pump or mini split, here’s everything you need to know about heat pump costs, installation prices, and the factors that can impact them.
Heat Pump Installation Costs
In 2024, the average heat pump costs anywhere from around $10,000 – $20,000, but the exact amount can vary significantly. Several factors and aspects of your home come into play to impact the price of a heat pump, including the square footage, heating and cooling needs, and more.
Here are just a few of the key components that go into how much your heat pump will cost:
- Home Size – The square footage of your home directly impacts the size heat pump you will need, which impacts the cost. For mini splits, larger homes will require more indoor air handlers, also affecting cost.
- Type of Heat Pump System – The type of heat pump you choose—whether a high-efficiency model or a hybrid dual-fuel system—will influence the price. Advanced models with features like variable-speed compressors or high SEER ratings offer superior performance, but can come at a higher cost.
- Removal of Old Equipment – If you’re replacing an existing furnace or air conditioning system, the removal and disposal of old equipment can add to the heat pump installation cost.
- Complexity of Installation – Electrical work, cramped spaces, and other challenges can make the installation more difficult, thus increasing the cost.
Save on Heat Pump Installation with Incentives & Rebates
While the upfront cost of a heat pump can be a significant investment, there are several rebates, tax credits, and financing options that can dramatically lower your heat pump system cost, including a $2,000 federal tax credit for heat pumps and up to $16,000 in Mass Save® heat pump rebates. The Kearney HVAC team stays up to date on what’s currently available in the Merrimac, MA and Seabrook, NH areas and is a qualified contractor for the Mass Save rebate program. We can guide you through the process of accessing these incentives, ensuring you get the best possible price for your heat pump installation.
Get Started with an In-Home Assessment
More homeowners are making the switch to heat pumps for their heating and cooling needs—and for good reason. With a heat pump, you can reduce your heating and cooling costs, enjoy consistent indoor comfort, and decrease your reliance on fossil fuels. At Kearney HVAC, our NATE-certified technicians start every job with an in-home assessment to better understand your specific heating and cooling needs and provide the most accurate heat pump quotes. Contact Kearney HVAC today to learn more about heat pump costs and how we can help you achieve year-round comfort at a price that fits your budget.
