The short answer? It depends.
We know, it’s kind of a trick question. However, each and every home, system, and family will have different wants, needs, and limitations that can significantly impact the amount you can expect to pay for a replacement heat pump, furnace, boiler, and other home comfort products—it’s the same reason your JK Comfort Consultants generally cannot give a “ballpark” price over the phone. We don’t believe in “one size fits all” installations. HVAC is a significant investment that impacts the everyday comfort and safety of your family, and taking care to properly size, design, and install a system up-front means a better return on that investment for years to come.
That said, we can get a slightly better understanding of how much a replacement system will cost. According to HomeAdvisor, the national average cost for a straight, electric heat pump replacement is $5,600, with a range of $1,500 to $10,000. As you can see, it’s a significant range for what seems like a standard procedure. To get a better sense of what to expect, look for these key factors that will impact the price of your heat pump replacement:
Home Sizing, Layout, and Function
The “size” of the unit needed to comfortably heat and cool your home is affected by a number of factors such as square footage, your home’s footprint, doors and windows, the number of residents in the home, and more. One of the first things your JK Comfort Consultant will do is discuss with you the performance of your existing system and how it has worked for you over time. Chances are, at least one factor on the list above has changed in the years since your existing system was designed and installed. For most systems, it makes sense to check in so we can be sure your new system is designed to provide optimum comfort. The size of the unit is one of the key factors in determining the cost of the system.
Once the size of the system needed has been determined, your JK Comfort Consultant can prepare options for different systems with varied efficiency ratings. Heat Pump efficiency can be measured in SEER for cooling and HSPF for heating. SEER, or Seasonal Energy Efficiency Ratio, measures the amount of cooling capacity divided by the amount of energy used. HSPF, or Heating Seasonal Performance Factor, measures how much heating is achieved vs. the total energy used to get warm air into the home. High SEER and HSPF rated units will typically cost more upfront. However, they will also cost less to run over time and may even qualify for tax credits or utility rebates, both factors that can significantly cut the expected payback time of your new system.
Condition of Existing Parts and Equipment
Ideally, during a system replacement, the install team will be able to reuse some, most, of all of the existing parts or equipment in your home. This could include the ductwork, air handler, line sets, zoning, grilles and dampers, thermostat, and more. Another important part of the on-site assessment with your JK Comfort Consultant is their inspection and evaluation of these parts. If they are still in good condition and will be compatible with your new system, reusing them can offer notable savings.
Bonus tip: This logic also extends to replacing multiple systems at once. If you have multiple heat pumps or a furnace or boiler with an AC that are of similar age and you’re considering replacing just one, it often makes sense to replace both components or multiple systems at once for the savings on labor, in addition to the convenience of scheduling together. Your JK Comfort Consultant or service technician can help you weigh your options.
In the event you need or choose to have your thermostat replaced at the same time as your heat pump, the type of thermostat you choose will affect the overall price of your installation. Depending on what is compatible with the system you select, thermostats can offer programmable schedules, Wi-Fi control, voice control, Alexa features, and more. As with your system efficiency, choosing a smart thermostat can offer savings in the long run by helping your system run more efficiently.
Tax Credits or Utility Rebates
Throughout the year, different manufacturers and power companies may offer both mail-in or instant rebates on select equipment. These rebates vary significantly based on the brand of your equipment, the unit’s efficiency, certain accessories such as a programmable thermostat, the timing of your purchase, and more. At times, a higher-end system may cost less than a more basic model when all is said and done.
Considering replacing your heating or cooling equipment? Supply chain issues are expected to extend lead times, so we encourage all of our clients to plan ahead for a replacement whenever possible to avoid being caught in an emergency during peak heating season. Give us a call or contact us below to request your free, No Pressure, in-home assessment with one of JK Mechanical’s experienced Home Comfort Consultants.