From Heating Oil to Heat Pump: One Homeowner's Savings Story

Heating and cooling your home make up the biggest chunk of your home's energy costs. But not enough people are considering a heat pump as a solution. The Energy Information Administration data shows 31% of energy consumption comes from air conditioning and space heating. It's no wonder CNET's latest energy cost survey found 78% of Americans are stressed out about their utility bills. While these energy-efficient HVAC systems have gained popularity in recent years -- outpacing gas furnaces for the past three years -- the same CNET survey also showed only 14% of respondents plan to upgrade to a heat pump to help reduce those energy costs. At CNET, we are big fans of heat pumps because of their efficiency and ability to both heat and cool your home by transferring heat rather than generating it. While heat pumps are often advertised as a money-saving home upgrade, the actual savings depend on where you live, electricity rates and the HVAC system you're replacing. So, how much can you ... Read full article.