I just had my first winter with a heat pump, I saved ~$2800 and reduced my houses’s green house gas emissions by over 85%
Last year I paid 3281$ for heating oil.
This year I paid 427$ more than last year for electricity during the winter months.
Last year I created 4.6 Tonnes of GHG. This year I created 0.6 Tonne of GHG.
I did this with the Canada Greener Homes Grant and loans. You basically get an audit and a follow up that you get back on your taxes. The audit tells you what you should do to improve the house. I got a heat pump, I might get solar panels. You can also apply for a loan, from 5k to 40k over 10 years at 0% interest to pay for the upgrades. On top of that, you get up to 5k$ straight-up cash in grants for your improvements.
A good heat pump and installation will cost you from ~$6 000-$20 000. As a sidenote, a heat pump also acts as an AC during the summer. So it replaces your furnace and your AC.
If you do the math. You can pretty much make money in the first year by switching to a heat pump. Different heat pumps are eligible for different grant levels, I’d strongly recommend you only get the ones that are eligible for the $5000 grant. Those will start at around $9000. If you do, and you’re using oil like me, you’ll have the system paid out and you’ll be making a profit starting year 2. That’s pretty good considering you’re also having a huge impact on your greenhouse gas emissions.
I got mine from Ray at Ross Heating and Cooling. And despite them not having a web site (seriously they should get on that) he was really great. No BS salesperson shit. He knew his stuff and he did the install himself. Great work and the results speak for themselves.
Ross Heating and Cooling.