Heat pumps: what they do and why they’re hot now
The giant climate bill Democrats are working to pass, called the Inflation Reduction Act, for instance, includes up to an $8,000 rebate for income-eligible Americans who install a new heat pump in their home. Anyone who doesn’t qualify for the rebate can still get a tax credit of up to $2,000 for installing a heat pump.
While the appliance can save you money in the long run through lower utility bills, heat pumps typically still come with higher upfront costs than traditional heating or cooling systems. People paid a median of $7,791 to buy and install a ducted air-source heat pump compared to $6,870 for a gas furnace, according to a Consumer Reports survey of its members.
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