What is the price of a heat pump?

The heat pump is a 2-in-1 device that can warm the interior of your home in the winter and cool the atmosphere in the summer. Operating mainly thanks to free and renewable energy, this device is renowned on the market for its economical nature. What is its price and why is it profitable?

How much does a heat pump cost on average?

The price of a heat pump can go up to more than $15,000, installation included. The elements taken into account for the calculation of the total cost of the device are as follows:

  • The type of heat pump selected: wall-mounted, central or multi-zone;
  • The heat pump model chosen: Air-Water, Air-Air, geothermal;
  • The brand of the device, its quality and its COP (coefficient of performance);
  • The dimensions of the space to be heated and cooled;
  • The cost of installation by the service provider: it is always recommended to entrust the installation of this type of device to a professional to guarantee its proper functioning and durability.

Why is the heat pump considered an economical device is profitable?

It is true that the initial cost of a heat pump seems very high at first glance. However, this device does pay off if used under the right conditions and if you opt for higher quality devices. We explain everything to you.

Heat pump and energy saving

The heat pump captures natural energy (heat) contained in the air, water or ground to heat or cool the interior of a building. Thus, its use leads to a reduction in your consumption of electricity or fuel. As a result, expenses related to heating or air conditioning devices will decrease more or less considerably, in the short as well as in the long term.

Heat pump and subsidies

In Quebec, it is possible to receive financial assistance for the installation of a heat pump if it appears on the list of eligible devices. Several organizations offer grants, which can be up to $15,000 or more, depending on the situation. Among them, we can cite, for example, Hydro-Québec as part of the Efficient Heat Pumps program, Novoclimat Maisons, Rénoclimat or Novoclimat Small Multi-Dwelling Buildings.

Heat pump: a substantial but profitable initial investment

In the end, the personal contribution necessary for the purchase and installation of a heat pump can be reduced to only a few thousand dollars if you opt for a device eligible for the financial assistance available.

In addition, the money saved by reducing your energy consumption is significant over the long term. Therefore, experts estimate that the total cost of installing this type of device is amortized in 5-10 years, with a service life of 15-20 years if it is of good quality.

To conclude

Note, however, that the heat pump reduces your electricity consumption, and therefore your electricity bill, only under the following conditions:

  • The thermal insulation of the building is optimal;
  • The temperature in winter is not too low. Otherwise, it will be necessary to opt for a geothermal heat pump, the limits of which are much wider since the interior of the ground is not exposed to freezing;
  • The device is of good quality and is properly maintained;
  • The size of the device is adapted to the surface to be heated or cooled.