Had to choose between a heat pump and a new gas furnace for my house in Denver

My old furnace died right before winter last year. The heat pump install was $2,000 more upfront plus I needed to upgrade my panel. But with the tax credits and my utility rebate it came out to only $400 more than the gas furnace in the end. Honestly I was worried it wouldn't keep up when it got below 20 degrees but it actually handled fine. My electric bill went up about $35 a month but my gas bill dropped to basically zero. Has anyone else made this swap and regretted it or been happy with it?

2 comments

2 Comments

jesse_craig263d agoMost Upvoted

Jumping off what oliver719 said about insulation... that's the real wildcard here. My neighbor has this old brick house from the 50s with single pane windows and his heat pump runs constantly when it's cold. His bills are way higher than mine even though we have the same unit. I had my attic reinsulated before I made the swap and that probably saved me more than anything else. The whole thing really depends on how tight your house is and if you're willing to do some prep work first.

oliver7193d ago

my electric bill went up about $35" - just a heads up, that math might not be right for everyone. My buddy in the Springs did the same swap and his electric jumped almost $80 because his old house had terrible insulation. You probably have a newer place or good insulation.