What is the cost of a new heat pump installed?
A common question we are always asked is “How much does a new heat pump cost?” This article is referring to the cost of both a new heat pump and air handler. This is considered a “complete system”. Typically when an older heat pump needs replacing, the heat pump and air handler both need to be replaced at the same time.
The cost of a new heat pump depends on several factors. We have included a summary of three of the main cost factors…
The first factor to consider is the size (also known as capacity or BTU) of the required heat pump system. The sizing is referred to as “tonnage”. Sizing of a residential heat pump system ranges from 1.5 ton to 5 ton. The larger the space needed to be heated and cooled, the larger the heat pump that is required. The larger the tonnage, the higher the cost.
The second factor that has a major impact on price is the SEER and HSPF ratings. The SEER and HSPF rating are the cooling and heating efficiency of the heat pump system. It is the cost to operate which would be reflected on the electric bill. The SEER of today’s new heat pumps range from 14 SEER to 20+SEER. The higher the SEER and HSPF, the lower the cost to operate the heat pump. Also, the higher the SEER and HSPF, the higher the upfront cost of the system.
The third factor is the difficulty of the installation. How many duct work modifications are needed to properly install the new heat pump into the existing duct system? How much space is there to work? Is the air handler in an attic or crawlspace? What additional installation materials are needed/required?
The lower end of the heat pump installation cost would be a 14 SEER, 1.5 ton heat pump. This cost is typically between $4,500-$5,500 installed.
The higher end of heat pump installations would be a 20 SEER, 5 ton heat pump. This type of system would be over $10,000.
All other sizes and models should fall in between these prices.
Short Pump Heating and Air is a leader in the Richmond, VA area for new heat pumps and all HVAC system installations. Give us a call if you have any questions regarding your HVAC systems. We would be happy to schedule a free estimate to get you exact pricing and options on a new HVAC system installation.