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How Much Does It Cost To Install A Heat Pump?

Most homeowners spend between $4,594 to $5,674 nationally.
Get free estimates from local contractors who can Install a Heat Pump.

Installing a heat pump simplifies your entire HVAC system. Essentially a replacement for both your furnace and air conditioner, a heat pump can drastically reduce all your utility bills for years to come. Of course, added efficiency does not come without a cost. See the average heat pump prices near you and how you can reduce your heat pump installation or replacement cost below.

If you want to slash your utility bills, ImproveNet can connect you with local HVAC contractors ready to tackle your heat pump project.

National Install a Heat Pump Costs

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National

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$5,096

Average Cost

$75

Minimum Cost

$9,100

Maximum Cost
Average Range:

$4,594
to
$5,674

National Average Cost $5,096
Minimum Cost $75
Maximum Cost $9,100
Average Range $4,594 to $5,674
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How do we get this data? This info is based on 2937 cost profiles, as reported by ImproveNet members.

Table of Contents

  1. Heat Pump Installation Cost
  2. Heat Pump Prices
  3. Heat Pump Labor Costs
  4. Heat Pump Replacement Cost Factors
  5. Heat Pump Discounts
  6. Heat Pump Prices Vs. Alternatives
  7. Advantages Of Heat Pumps
  8. Find An HVAC Contractor

Heat Pump Installation Cost

Your heat pump installation cost will largely come down to the actual heat pump price and the cost of professional labor. Both factors range from as low as a few hundred dollars to as high as $10,000. Thus, the average heat pump replacement cost can vary.

Nonetheless, taking into account over 2,900 heat pump installation and replacement projects, the average cost to install a heat pump is approximately $5,100. This price includes labor and installation.

Heat Pump Prices

Setting aside labor for a minute, let’s look at the actual cost of the heat pump. While HVAC work is usually reserved for professional contractors, some experienced DIYers can replace a heat pump. If you’re one in the same, your only cost should be the price of the heat pump. Below are some of the most common and effective heat pumps on the market:

Heat Pump Category

Minimum Price

Maximum Price

Ductless Heat Pumps

$1,500

$2,500

High Efficiency Heat Pumps

$1,800

$3,200

Dual Fuel Heat Pumps

$3,200

$3,800

Energy Efficient Heat Pumps

$3,800

$10,000

Popular Heat Pump Brands

Minimum Price

Maximum Price

Amana

$700

$2,000

Goodman

$1,000

$3,000

Coleman

$1,100

$2,700

Rheem

$1,100

$3,200

Armstrong

$1,200

$3,000

Bryant

$1,700

$4,700

Carrier

$2,000

$5,000

Trane

$2,000

$4,800

Lennox

$2,000

$5,600

Heat Pump Sizes

Minimum Price

Maximum Price

1.5 Ton

$1,100

$2,300

2 Ton

$1,200

$2,500

2.5 ton

$1,300

$2,900

3 Ton

$1,500

$3,000

3.5 Ton

$1,700

$3,200

4 Ton

$1,900

$3,600

5 Ton

$2,500

$4,100

Heat Pump Installation Cost

Best Heat Pumps

All heat pumps come with their own pros and cons. The disadvantages usually revolve around pricing and whether or not it can heat and cool a larger area. However, when you look at all factors, from price and efficiency to ease of installation and more, certain heat pumps stand above the rest. According to Spear Gear Store, the following are the best heat pumps of 2017.

  1. Goodman 3 Ton 13 Seer Heat Pump
  2. Honeywell MM14CHCS Heat Pump
  3. Goodman 2.5 Ton 15 SEER
  4. Whynter ARC-122DHP Elite
  5. LG Electronic LP1414SHR
  6. Friedrich PH14B
  7. TRANE TR21474T
  8. Hayward HP21404T HeatPro
  9. MRCOOL DIY 24K BTU Mini Split Heat Pump
  10. DuctlessAire 12,000 BTU 22 SEER Heat Pump

Heat Pump Labor Costs

Prices of actual heat pumps have remained steady over the years. Sadly, labor costs vary quite a bit more than the actual heat pumps. That’s because different homes require different installations. Some homes require excavation or drilling through concrete driveways and walls. Others require pipe installation or a whole new venting system. In addition to the added time, each aspect brings more complexity to the job.

All else considered, heat pump labor costs generally range between $1,000 and $6,000. Given the large range, we highly recommend you gather at least three quotes for your heat pump replacement project.

Heat Pump Prices

Heat Pump Replacement Cost Factors

While a majority of your heat pump cost will come down to the pump and labor prices, there are a few other factors you have to consider. More often than not, you won’t be able to control all of them (like location or size of your home), but knowing all before installing a heat pump will certainly give you a leg up as you find the right HVAC contractor near you.

Size of Home

As you saw above, heat pumps range from 1- to 5-ton models. Larger homes require larger heat pumps, which require larger pockets. Sadly, this is one of those factors you can’t control. You simply can’t install a smaller heat pump to save money if you own a larger home. The heat pump will have to work that much harder to maintain desire temps and therefore, loose any efficiency you thought you gained by purchasing a heat pump.

Climate

Heat pumps are ideal for homes in the middle of the U.S. Unfortunately, heat pumps are not very efficient in areas that see extreme temperatures. Essentially, if the temperature goes above 80 degrees Fahrenheit or below 25 degrees Fahrenheit, the heat pump has to work extra hard to maintain your ideal temperature. Just like above, you will loose the efficiency that typically comes with a heat pump. Therefore, if you live on the East or West Coast, ask a local HVAC contractor if a heat pump is right for you.

Existing HVAC

Hopefully, you already have some HVAC or duct system in place. If not, your heat pumps cost just went up. Installing a new duct system can get expensive. In fact, a high-velocity mini-duct system ranges from $3,000 to $18,000!

If you fall into this conundrum, we highly recommend a ductless heat pump. As you saw above, prices start at just $1,500.

Type of Heat Pump

There are two types of heat pumps: geothermal heat pumps that draw heat from the ground and air-source pumps that pull the heat from the air outside. Geothermal heat pumps are more expensive to install because the system needs to be installed underground. The upside is that maintenance on the geothermal heat pump systems is normally less, as they are protected from the elements. Furthermore, a geothermal heat pump system actually pays for itself twice as fast as an air source heat pump system.

Number of Rooms Affected

If you live in a relatively stable climate, you could heat or cool individual rooms as opposed to the entire house. As you might expect, single-zone systems are cheaper than multi-zone systems. Single-zone units include one or two interior parts, while multi-zone systems could include up to five. Fewer materials mean fewer costs.

Heat Pump Labor Costs

Heat Pump Discounts

Unlike a furnace or air conditioner, you may qualify for certain tax credits or rebates when you purchase a new heat pump. To determine the exact rebates in your state, ask a local accountant about the following discounts:

  1. Renewable Energy Tax Credit
  2. Non-Business Energy Property Credit
  3. Residential Energy Property Expenditures

All in all, these rebates could save you up to 30% off your heat pump installation or replacement cost. However, they are not guaranteed every year. You can see the 2016 residential energy tax credits here.

Heat Pump Prices Vs. Alternatives

Since heat pumps are relatively limited based on location, many homeowners have not heard of them. Additionally, there are plenty of options on the market. While efficiency and longevity are incredibly important when it comes to HVAC, more often than not, price is No. 1 factor most homeowners look at. Therefore, you must have an accurate comparison chart. Below are the most common HVAC systems in homes across the country and their installation costs:

HVAC System

Minimum Price

Maximum Price

Radiant Heat

$2,678

$4,738

Furnace

$2,975

$4,543

Air Conditioner

$3,979

$5,486

Boilers

$4,242

$5,858

Heat Pump

$4,594

$5,674

Remember, a heat pump acts as an air conditioner and a heater. So, while heat pump prices are more expensive than other individual systems, it is less expensive than an air conditioner and boiler/furnace.

Furthermore, remember that a heat pump is an investment that can easily pay for itself over time. After all, you will immediately begin saving on your home heating and cooling costs the day you put in a new heat pump. This should be taken into consideration as you decide whether or not you want to install a heat pump.

Heat Pump Replacement Cost Factors

Advantages Of Heat Pumps

By now, you know all about heat pump costs and a few of the advantages. However, there are plenty of other benefits you should consider before your purchase your next HVAC system. They don’t all relate to costs, but when it comes to the home, few additions are decided on cost alone.

  1. Heat Pumps are Efficient: Over the long haul, you will save money with a heat pump as opposed to an air conditioner and boiler/furnace. They require less energy, reducing your electric and gas bills. This fact has been proven time and time again,
  2. Heat Pumps Take Up Less Space: Air conditioners and boilers/furnaces are large objects. They take up a lot of space. While some heat pumps are larger, others are small. Furthermore, some heat pumps are installed in the group, taking up no visible square footage around the home. I think most homeowners can agree, we could all use more space in our homes.
  3. Heat Pumps Increase Your Home’s Value: Because heat pumps are more efficient, they increase the value of a home compared to homes with ACs/boilers or homes with no central HVAC. Therefore, if you plan on selling your home in the next five years, you could reap more benefits the day you sell.
  4. Heat Pumps Provide Cleaner Air: Heat pumps move air from room to room. Therefore, they usually do not bring in dry air from outside the home. If, by chance, your home contains dirty air, heat pumps have filters that can remove it.
  5. Heat Pump Repairs are Relatively Cheap: You can also DIY troubleshoot before calling in a contractor to repair your heat pump.

Find An HVAC Contractor

Heat pumps are an efficient HVAC system that can cool and heat your home. It’s the two-in-one system homeowners are adding every day. While the installation cost may sound high, you make up for it right away with lower utility bills and cleaner air.

If this sounds like a smart investment, ImproveNet can connect you with local HVAC contractors ready to take on your heat pump installation.

Get free estimates from local heat pump contractors

Last updated on Jun 5, 2017

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