Yes, definitely. Heat pumps are literally and figuratively cool. And without a doubt, the best time to consider installing a heat pump is when your AC (or furnace) dies.
Heat pumps do double duty, providing both heating and cooling. They offer significant savings and improved comfort — which I confirmed first hand after my old outdoor air conditioner compressor died. Replacing both my old AC and gas furnace with a heat pump was one of the best home improvements I’ve ever made. The system operates almost silently, has better temperature control throughout my house, and my heating and cooling bills are down significantly.
New heat pump models use inverter-based variable speed compressors with efficiencies in excess of 350%. These high system efficiencies mean that your total heating and cooling costs will almost always be lower with a heat pump than an ordinary AC and gas furnace. And from a comfort standpoint, with mini-split models you can even heat/cool individual rooms in your house!
Sure, a basic AC replacement might seem cheaper initially. But keep in mind, federal tax credits and state rebates (part of the Inflation Reduction Act) will bring down the cost of your heat pump installation by $2k-$10k. So in most cases it makes sense to price out a heat pump when your AC fails in the summer, or your furnace fails in the winter.
Want to learn more? Please listen to the full Energy Show podcast and discover why heat pumps are the smart choice when your AC can longer stand the heat.