8 of The Most Common Questions About Heat Pumps Explained——Part 3

   date:2020-10-27     browse:1    comments:0    

How does a heat pump affect my heating and electricity bills?

Each single unit (often referred to as a one-to-one) heat pump that is used daily will increase your electricity bill by $50 to $100 per month. However, the heat pump will reduce your heating fuel bill accordingly – for a typical household that uses 800 gallons of oil per year, a heat pump can reduce the amount of oil used by 300 gallons. If oil costs $2.75 per gallon, the price per million BTU (British Thermal Units, the standard measure of heat in the US) would be $28.06. To get the same amount of heat, 1 million BTU, from a heat pump with the current standard electric rate of 14.5 cents per kilowatt hour, it would cost you $14.71. In other words, heating your home with a heat pump is equivalent heating your home with oil for $1.44 per gallon, or for 48% less.

What are the benefits of a heat pump when used with solar electricity?

household heat pump

he benefit of solar panels is that during the day when the sun is shining, your rooftop panels are harvesting solar energy and converting that energy to be used in your home as electricity. In many homes, power generated by the array that is not used in the home is credited back to you by your electric utility company and is used to offset your electric bill at the end of each month. Most homes will still have an electricity bill for power used overnight, during storms, or during periods of high use such as very hot periods of summer.

However, your heat pump is powered by electricity – and when you pair solar panels for electricity with heat pumps for heat (which use electricity for power), you are heating your home for an average of about 9 cents per kWh vs. 14.5 cents per kWh without solar, effectively reducing your cost to run your heat pump by almost 40% annually.


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Article Source: 8 of The Most Common Questions About Heat Pumps Explained——Part 3
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