1. What is Heat Pump Savings?

Heat pump savings represent the difference in cost between your old heating/cooling system and a new heat pump system. This calculation helps determine the financial benefits of switching to a heat pump.

2. How Does the Calculator Work?

The calculator uses a simple equation:

Where:

• \( Old\ Cost \) — Annual cost of your current heating/cooling system ($)
• \( New\ Cost \) — Estimated annual cost with heat pump ($)

Explanation: The equation calculates the absolute dollar savings you would achieve by switching to a heat pump system.

3. Importance of Savings Calculation

Details: Calculating potential savings helps in making informed decisions about energy system upgrades and understanding the payback period for your investment.

4. Using the Calculator

Tips: Enter your current annual heating/cooling costs and the estimated annual costs with a heat pump. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What costs should I include in the calculation?
A: Include all energy costs (electricity, gas, oil) for heating and cooling your space annually.

Q2: How accurate is this savings estimate?
A: This provides a basic estimate. Actual savings may vary based on system efficiency, local climate, and energy prices.

Q3: Should I include installation costs?
A: No, this calculator compares operational costs only. Installation costs should be considered separately for ROI calculations.

Q4: What time period does this cover?
A: The calculator compares annual costs. For multi-year analysis, consider potential energy price changes.

Q5: Are there other benefits not reflected in savings?
A: Yes, heat pumps often provide better comfort, reduced carbon footprint, and may qualify for rebates not shown here.