2024 Heat Pump Buying Guide for Homes

You want to switch from a gas-burning furnace to an electric air-source heat pump to heat your home—but you are unsure how to make the transition.

Midwest Air Pros can help. We are your nearby heating and cooling company, ready to install or repair your heat pump. Our heat pump professionals can replace your older heating, ventilation, and air conditioning (HVAC) equipment with a new, ducted heat pump that connects to your existing ductwork.

Midwest Air Pros specializes in installing and repairing heat pumps that provide heating and air conditioning to your entire home. Or you can choose a ductless mini-split to add more comfort to parts of your home without ductwork, such as the basement, sunroom, or attic.

How Does a Heat Pump Work?

Heat pumps look like air conditioning units—and they work like them, running on electricity and using a refrigerant to absorb heat in your home and transfer it outdoors.

The big difference? A heat pump can reverse refrigerant flow to extract heat from the outdoors to heat your home during the colder months.

Heat pumps transfer energy rather than generate it, making them an eco-friendly HVAC solution. According to a study from the University of California, Davis, a high-efficiency heat pump can cut a home’s carbon emissions by 40 percent compared to a gas furnace.

Why Buy a Heat Pump?

Buying a heat pump contributes to a cleaner environment, reduces your home’s carbon footprint, and can lower energy costs. Here are other reasons to buy a heat pump:

  • Your existing HVAC equipment is getting old
    The best time to buy a ducted air-source heat pump is when you are ready to replace your furnace or air conditioning unit. Most well-maintained HVAC systems start to slow down at the 12 to 15-year mark, so that’s a good time to start planning.
  • You need to replace your AC unit
    A heat pump works just like an air conditioning unit. You can replace the AC unit with a heat pump and keep your furnace for extreme weather conditions. This dual-fuel strategy will reduce your home’s energy use.
  • You have a larger home
    A ductless mini-split is the perfect solution for larger homes with patchy cold and hot spots. A mini split connects an outdoor unit with a sleek indoor air handling unit.

    You can mount the indoor unit in practically any part of your home, delivering instant comfort.

Installing a Heat Pump: Is it Difficult?

For homes with existing ductwork, Midwest Air Pros can install your air-source heat pump in 4 to 6 hours. It would take longer if we had to extend the ductwork.

Heat pumps are easy to install. A power cord containing refrigerant, a condensate drain line, and wiring connect your outdoor and indoor units. You can trust our team to take accurate measurements of your home to properly size your heat pump.

Do Heat Pumps Work in Cold Weather?

You can purchase a cold-climate heat pump that can heat your home when outdoor temperatures plunge to zero. Some models can function effectively even at -15°F or lower!

These cold-climate heating systems use variable-speed inverter technology and advanced defrosting cycles to keep your home comfortable in a blizzard!

Heat Pump Tax Credits

Beginning January 1, 2023, the 25C Residential Energy Efficiency Tax Credit provides a capped 30 percent tax credit for qualifying air-source heat pumps. The maximum amount you can claim on your taxes is $2,000.

U.S. Congress established the federal tax credit through the Inflation Reduction Act (IRA) of 2022 to encourage homeowners to upgrade old heating and cooling equipment. Upgrades must be to an existing home and your principal residence.

Our team can help you find energy-saving models that meet qualifying standards while meeting your home’s needs. You also want to consult your tax professional about the IRA tax deduction.

The 25C tax credit extends through 2032 before it dips below 30 percent. But keep in mind that equipment costs will continue to rise, making now the perfect time to determine if a heat pump is a good choice for your home.

Heat Pump Rebates

Federal rebates on heat pumps through the IRA are expected to become available in mid-2024. Depending on your household income, you might qualify for up to $8,000 in rebates toward a new heat pump.

Midwest Air Pros will inform you about any utility rebates immediately available to offset your heat pump purchase.

How Popular Are Heat Pumps in the United States?

In 2022, annual sales of heat pumps in the U.S. rose above 4 million units for the first time, outpacing the sale of gas furnaces, according to the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

Almost half of a typical home’s energy use goes toward heating and cooling. Switching to a more efficient heating system with cleaner sources of energy will go a long way toward making your home more sustainable.

Call Your Heat Pump Experts

Start saving today. Midwest Air Pros has a team of heating experts to answer all your questions about heat pumps and how they can benefit your home. Click our Find a Pro button to find an expert near you.