AS THE COST OF ENERGY INCREASES, HEAT PUMPS ARE AN INVESTMENT FOR THE FUTURE
The higher prices go for all energy sources, the more valuable energy efficiency becomes, making heat pumps a valuable investment for the future of heating and cooling your home. Heat pumps can be 400% efficient while combustion systems can’t exceed 100%.
EVEN WITH THE ELECTRIC INCREASE, HEAT PUMPS REMAIN MORE COST-EFFECTIVE THAN OIL & PROPANE
Typically, heat pumps cost the same as natural gas, ½ the price of oil, and ⅓ the price of propane. Even with the increased electric rates, heat pumps are still far more affordable and efficient than other forms of heat. They’re also an important investment in the
ALL ENERGY PRICES ARE INCREASING
Including oil and propane. In December 2010, oil prices were $2.11 a gallon and rose to $3.14 a gallon by December of 2021. This is a 49% increase. Oil is forecasted to increase an additional 40% in 2022. Electric heating, heat pumps in particular, provide a much better value than heating with oil.
Try the Efficiency Maine Home Heating Costs Calculator to learn how a heat pump system could help you save money on heating and cooling your home, camp, or business in Maine.