Every heating and cooling system has a limited life expectancy. Continuing to use them beyond that time is possible, but their maintenance becomes a heavy expenditure. They demand more and more with each passing year, until one day the realization hits, it is only digging bigger and bigger holes in your pockets. It is now the time to replace your old HVAC system.
An increasing number of people want to go with a green option for heating and cooling their home that is both efficient and effective. In that race, the heat pumps come out as a definite winner. They not only reduce your carbon footprint but also bring a windfall of energy savings. If you want to replace a heat pump or replace your old central heating and cooling system with a heat pump, you are at just the right page. We plan to tell you all about the average costs to replace a heat pump in 2021.
Cost Of Installing A New Heat Pump
When you are looking to replace a heat pump, it will help to know the cost of installing a new one. This way, you can budget accordingly. The biggest mistake that people make while budgeting is that they only consider the cost of the new system and fail to make provision for its installation cost, which is another significant expenditure.
On average, the heat pump installation cost varies between $3,800 to $8,200. The final amount depends on several factors like:
1. Size of the heat pump.
2. Its efficiency rating.
3. The brand of the heat pump.
4. The type of heat pump.
The price will increase further if you decide to:
1. Opt for a hybrid furnace (+$2,000 to $6,000)
2. Install new ductwork (+$2,400 to $6,600)
3. Replace the old air handler (+$2,000 to $3,500)
Cost Of A Heat Pump
We spoke about the installation cost; let’s have a peek at the cost of the equipment itself. A mid-quality or mid-range heat pump will cost between $800 to $4,500. The final cost can soar as high as $20,000 when you take into account the permit costs, contractor’s fee, and the labor charge.
Cost Comparison Of Heat Pumps
|Type Of Heat Pump||Total Installation Cost|
|Air Source Heat Pump||$4,500 to $8,000|
|Geothermal Heat Pump||$6,000 to $20,000|
|Mini-split Heat Pump||$2,000 to $14,500|
|Hybrid Heat Pump||$2,500 to $10,000|
|Solar Heat Pump||$18,000 to $39,000|
1. Air Source Heat Pumps – A basic air source heat pump will start at $4,500. If you decide to opt for a 5-ton, high-end version, you will have to shell out around $10,000 or more. The final cost depends on two main factors – the capacity of the heat pump and its brand.
2. Geothermal Heat Pump – Installing a geothermal heat pump will cost a homeowner around $6,000 to $20,000. If the installation is a tricky process involving a pond or in-ground, the installation cost can escalate to $30,000 and sometimes even more. Even though the initial cost is high, it more than makes up for that through minimal maintenance needs, energy savings, and a life expectancy of almost 50 years.
3. Mini-Split (Ductless) – The actual cost of a ductless mini-split system depends on the number of zones in the house. The greater the number, the higher the cost. Typically it will range between $2,000 to $14,500.
4. Hybrid Or Dual Fuel Heat Pump – If you install a hybrid heat pump to an existing furnace, it will cost between $2,500 to $6,000. However, if you decide to go for a complete heat pump and furnace replacement, it will cost $4,500 to $10,000.
5. Solar Heat Pump – There are two types of solar heat pumps. One makes use of solar energy to run the compressor. The other helps the pump by heating or increasing the temperature of the intermediate fluid. You can expect to pay $18,000 to $39,000 for it.
Cost Of High-Efficiency Heat Pumps
|SEER Rating||Price Per Unit||Installation Cost|
|13 – 14 SEER or 7 – 8 HSPF||$1,000 to $2,100||$4,100 to $5,400|
|15 – 16 SEER or 8 – 9 HSPF||$1,500 to $2,600||$5,200 to $6,300|
|17 – 18 SEER or 9 – 10 HSPF||$2,200 to $3,200||$6,300 to $7,400|
|19+ SEER or 10+HSPF||$3,100 to $4,000||$7,200 to $9,500|
Cost Of Heat Pumps According To Size
|2 Tons||$3,500 to $5,500|
|2.5 Tons||$3,700 to $5,800|
|3 Tons||$3,900 to $6,200|
|3.5 Tons||$3,900 to $6,400|
|4 Tons||$4,000 to $7,300|
|4.5 Tons||$4,500 to $8,800|
Cost Of New Heat Pump With Ductwork Installation
New ductwork along with a new heat pump will cost you somewhere between $12,000 to $25,000. However, if you are the owner of a new dwelling where the basement and attic are still unfinished or work in progress, you can get it for as little as $3,000 to $5,000.
The Gist Of The Matter
To replace a heat pump is no joking matter. The combined package of buying and getting a new one installed is an expensive deal. If you have not budgeted for it properly, you may be in for a rude awakening. Make arrangements for the cost of the heat pump as well as its installation cost. Nevertheless, don’t feel bogged down by the financial pressure because you can recover the cost quickly through energy savings and other rebates given by utility companies.
If you can’t decide whether it’s time to replace your heat pump, let Aztil Air Conditioning help. We are a family-owned HVAC contractor operating in South Florida since 1981. We offer an extensive suite of HVAC services that meets all the requirements of your heating and cooling system. Our services are top-notch and our technicians the best. If you wish to give your commercial or residential HVAC system some tender loving care, call +1-888-729-8452.