- Heating Fuel & Pellets
- Co-op Membership
- Heat Pumps
- Home Heating Services
- Oil Tanks
- Space Heaters
- Water Heaters
- Natural Gas Conversions
- Energy Efficiency/Solar
- Rebates and Financing
Installing a heat pump is one of the best ways to cut your fossil fuel use and to reduce your carbon footprint. That's why more and more Vermonters are installing them. Many see their oil, natural gas and propane use go down by up to 70%. Plus, they enjoy cool, comfortable homes all summer long!
Will you save money on your heating bills if you install a heat pump?
It depends on the fuel you are currently using to heat your home. If you heat with propane, fuel oil or kerosene, the savings can be very significant.
On average a heat pump in Vermont costs $18.32 per mmbtu to operate. As of December 2018, the State of Vermont average price for heating fuels were:
Heating oil - $2.89 per gallon or $26.18 per mmbtu
Kerosene - $3.30 per gallon or $29.89 per mmbtu
Propane - $2.67 per gallon or $30.93 per mmbtu
On average with the above unit costs, heat pumps cost 30% less than heating oil, 39% less than kerosene and 41% less than propane to operate. This means homes heated with these fossil fuels can save up to $1,000 per year on their heating costs after installing a cold climate heat pump.
If you are currently using natural gas, a heat pump may not lower your heating bills but it will reduce your fossil fuel usage and your carbon footprint.
Price fluctuations in fossil fuels prices are a variable factor in how much you can expect to save. If fuel prices go really low, you may not actually save money when you install a heat pump. But there may be other good reasons to install heat pumps in these homes:
- To cut your fossil fuel use and reduce your carbon footprint.
- To keep your home cool and comfortable all summer long.
- To protect your family from future spikes in fossil fuel prices.
Efficiency Vermont Rebates
Efficiency Vermont offers up to $400 rebates on the Mitsubishi heat pumps installed by the Energy Co-op. These rebates are included in our prices, so you don’t need to fill out any forms or do anything extra to get the savings.
Attractive Financing for Heat Pumps
To make it easier to pay for your heat pump, we recommend a Heat Saver Loan from the Opportunities Credit Union. This loan comes with low monthly payments, low interest rates and flexible terms. In order to qualify for a Heat Saver loan, your heat pump installer must be a Home Performance contractor or a member of the Efficiency Excellence Network. The Energy Co-op qualifies on both counts.
Heat Pump Prices
Our heat pump prices compare well with other contractors and start at $3,200 (electrical work not included). Call (802) 860-4090 or send us an email to schedule a no-charge, no-obligation estimate and site visit.