The honest answer to the question in the title is: “I’m not sure“. Not because I don’t believe heat pumps are great pieces of equipment, but because it depends on your particular circumstances.
How do you heat your home now?
If you have electric baseboard heating now, then YES it is worth the investment unless you have a single room tiny home or you enjoy being cold all winter long to save money.
If you have an oil fired boiler and hot water baseboards or in floor radiant heat, then MAYBE, it depends on what it’s costing you in oil each year and how comfortable you are during the winter months. If you’re answer to someone when they say “Geese it’s cold in here” is “Grab a sweater or that blanket beside you!“, then a heat pump is probably worth the investment.
If you have a oil fired warm air furnace, then the discussion takes an entirely different turn and I’m going to suggest you check out this article.
This is like a choose your own adventure article.
If you have electric baseboard heating now and since you’re even reading this I’ll assume you would either want or NEED to be paying less for heating. If this is you then do not pass go and do not collect $200, just give us a call to setup a 30 minute in home consultation or submit the form on this page to arrange an appointment time.
This isn’t a “try and sell you a heat pump” appointment. This is a “come in to assess your space, electrical service, layout etc.” appointment to determine if a heat pump is a good idea for your home. We don’t want to sell this gear to home owners that won’t benefit from it. Nova Scotia is just too small of a place to do wrong by home owners in the area!
Alright, moving on, if you have oil fired hot water heat what’s the next questions?
How much are you spending on Oil?
As a rule of thumb you should be spending at least $2500+ a year on oil, including your residential hot water for showers, dishes and laundry, to make a heat pump a worth while investment.
Less than $2500 a year and you’ll still see savings but they will be less. This extends the time to see payback on the heat pump 8-10+ years. This is just longer than some people are willing to wait.
We’ve created a nifty little tool that will tell you if a heat pump is worth the investment for you. It’s called “Is a Heat Pump For Me”. Only four simple questions and it spits out the results to if a heat pump is worth your time investigating.