How Much Should a Heat Pump System Cost?

Heat pumps are quickly becoming one of the most popular HVAC alternatives to traditional furnaces and air conditioners, especially for homeowners concerned with rising heating and cooling costs.

Why are heat pumps so popular? For many people in Mercer, Middlesex, and Somerset counties in New Jersey and Bucks County in PA, it’s the potential savings on their monthly utility bills. According to the Northeast Energy Efficiency Partnerships, your Flemington, Edison, or Levittown home could save as much as $948 per year on your heating and cooling costs when you upgrade.

But how much would it cost to upgrade your home to heat pumps and mini-splits, and what’s the difference between the two?

What Is a Heat Pump?

Electric heat pumps work by transferring heat from one place to another. This is very similar to how refrigerators or air conditioners operate—in cooling mode, a heat pump extracts heat from warm indoor air and moves it outside via a refrigerant line.

But heat pumps have the benefit of a second setting that air conditioners don’t have—a heating mode, where the process is reversed. In this setting, heat is extracted from the outdoor air and transferred inside to warm your home during the winter.

This may seem hard to imagine—how can a heat pump pull heat from cold winter air?—but actually, even very cold air contains some heat, and heat pump technology can continue to warm your home even when the outside air has dropped to 0°F or lower.

Because heat pumps don’t create heat—they merely transfer it—they are exceptionally energy efficient, and most heat pumps generate several times the amount of energy that they require to run!

The Difference Between Ducted and Ductless Heat Pumps

All air source heat pumps have two main components, an outdoor condenser unit and an indoor air handler, which distributes the conditioned air. There are two basic types of residential heat pump systems:

Ducted heat pumps connect to a home’s central ductwork system, and air is distributed throughout the home through vents.

Ductless heat pumps, often called mini splits or mini split heat pumps, don’t connect to ductwork at all. Instead, the condenser connects via the refrigerant piping to a number of air handlers installed throughout the home in the rooms and areas you are looking to heat and cool.

Ductless mini splits can be configured in a variety of ways, but a common configuration for New Jersey and Pennsylvania homeowners is a hybrid heat pump system, which uses a combination of both a traditional furnace and a ducted electric heat pump to lower energy costs in your home without sacrificing comfort. A hybrid system switches back and forth between mini split and furnace operation, depending on the outdoor temperature, to maximize your energy efficiency and heating and cooling savings while still keeping your home warm during the coldest New Jersey winter nights.

What Does It Cost to Install a Heat Pump in My Home?

At Princeton Air, we know how important the price tag is for any major home improvement upgrade, and that the motivation for many homeowners to install a mini split system in your home can be largely dependent on cost.

The problem is that there are so many factors that a professional heat pump installation contractor has to take into consideration before giving you an accurate price, which is why it can be hard to quickly find accurate pricing online.

For example, some of our entry level heat pumps start at $6,790 (before any rebates), including the cost of the unit as well as installation. But the total cost that you’d have to pay can increase or decrease from there, depending on:

• The square footage of the home
• The SEER rating of the particular heat pump model
• What happens to the old furnace in the house?

The best way to get an accurate quote for heat pump or hybrid mini split installation in your home is to call a professional heat pump installer near you, like the team of heating and cooling experts at Princeton Air.

On-Bill Financing Available!

On-bill financing makes energy efficiency upgrades more accessible by allowing you to spread the cost over time with zero-interest repayment options. With terms of 84 or 120 months, your monthly payment is seamlessly added to your utility bill, eliminating the need for additional accounts or paperwork. The program’s flexibility varies by utility provider and the specific upgrades you choose, ensuring a customized, hassle-free way to invest in your home’s comfort and efficiency.

Save Even More When You Upgrade to Heat Pumps with Princeton Air

Princeton Air works hard to make the cost of installing a mini split affordable, and to find the right heating and cooling solution that will work best for your home and your budget. That’s why we also help homeowners qualify for heat pump rebates and mini split rebates available through New Jersey’s Clean Energy Program, where you can save hundreds of dollars on the cost of your heat pump system installation.

Looking for the best mini split heat pump for cold weather? Call 609-913-2316 or contact us to talk to Princeton Air about the cost of upgrading your home.

Please add this to all content: JS Needham-Master HVACR Lic. # 3980 | M Burt-Plumbing Lic. # 8389 | NJHIC # 13VH00255200 | PAHIC # PA001066