We’ve seen it – and been through it – countless times. You want a heat pump, contact eight different contractors, half of them won’t install heat pumps, and the other half give you quotes that vary by thousands of dollars, likely without the rebates or incentives factored in that can substantially reduce the cost. It’s overwhelming, and leaves you feeling uncertain about what to do next.
We’re here to change that, and make transitioning to a climate-friendly home easy. That’s why we built a new tool: a free calculator that estimates the upfront and operating costs of installing a heat pump or heat pump water heater in minutes. It’s designed to take the guesswork out of the process, giving you clear, straightforward pricing to help you budget for electrifying your home and understand what to expect – no surprises, just transparency.
How It Works
Our calculator simplifies what would otherwise be a long, complicated process. Instead of asking you for tons of technical details, we ask you a few simple questions like your square footage, ductwork, and weather sealing and take over with our expertise in heat pumps from there.
How We Built It
We didn’t just guess at the numbers. Our team drew from the extensive database of heat pump installations we’ve completed in Colorado and Massachusetts over the last two years. We use real data from homes similar to yours – factoring in house size, heating needs, and even local temperature history to provide the most accurate estimate possible without talking to you first.
Let’s break it down:
Sizing Your Home: We’ve built the calculator using our expertise in building science and system sizing. Your home is matched to one of our 800+ completed installs, with careful attention paid to square footage and heating needs.
Energy Usage: We use a simplified home heating model to estimate how much energy is needed to keep your home comfortable at last year’s daily temperatures, and then to get accurate costs for energy usage. Our tool integrates with local weather data and adjusts based on specific conditions, like whether you’re at a higher elevation or experiencing extreme temperatures.
Rebates and Incentives: The calculator also pulls in all available rebates and incentives for you – including tax credits and income-based incentives. We make sure to show you the maximum savings you may qualify for, taking the hassle out of finding these benefits yourself.
Assumptions: While we’d love to give you an error-free quote down to the dollar without talking to you, technology isn’t quite there yet. The calculator was built on standard assumptions like your floor height, insulation quality, how many windows you have, and the efficiency rating of your existing furnace.
Let’s be real. Heat pumps aren’t cheap, and neither is your time. That’s why we built this calculator: to save you hours of research and back-and-forth with contractors, so you can have a general understanding of what home electrification should cost you.
Ayla and Otto Maher, enjoying their newly-installed Mitsubishi cold climate heat pump.
It started with freezing rooms. Then an oil tank leak. Then countless contractors who said heat pumps won’t work (and boy, were they wrong).
Breaking Up With Fossil Fuels
Tim, a high school math teacher, and Amelia, a public health researcher at Boston University, purchased their home in 2017. The house, which “hadn’t had a lot of love recently,” was a fixer-upper, and the couple, with the help of Tim’s handy dad, tackled various DIY projects. However, it wasn’t until things started breaking down that they seriously considered updating in a bigger way.
“Our oil tank started leaking,” Tim recalls. “That was the impetus to change.” The couple decided to take a leap and fully electrify their home, starting with the installation of a heat pump in mid-2023.
When Tim and Amelia contacted their local contractors and HVAC professionals about installing heat pumps, they were met with serious doubt about heat pumps even working in Boston (and cold climates in general). Luckily, we were there to swoop in and show them the magic of heat pumps – through rain, shine, snow, and ice.
The Heat Pump Effect
After working with Elephant Energy to install their heat pump, Tim and Amelia immediately noticed the perks of breaking up with fossil fuels – both in comfort and efficiency. “The precision of control is something that has been super nice,” Tim explains. “When we were on our oil furnace, there were rooms that were freezing and rooms that were boiling. It felt like you had to change clothes just to move to a different part of the house. Now, each room is exactly the temperature you want it to be.”
What can we say, heat pumps make quite the impression! Shortly after the couple installed their heat pump, they decided to fully electrify their home. They started by replacing their broken water heater with a heat pump water heater, followed by an EV charger and an induction stove.
The Elephant Difference
In Massachusetts, incentives and rebates play a key role in making home electrification affordable and accessible. Tim and Amelia were able to save $10,000 upfront and $2,000 in tax credits, thanks to Mass Save® and the Inflation Reduction Act (IRA).
“The help with the incentives was key. When buying our EV, it felt like there were incentives we were missing out on and we would have to find them ourselves. With Elephant, they worked with us to make sure we got all the Mass Save money”.
Tim and Amelia’s electrification journey is a great example of how switching to sustainable home energy solutions is possible even in cold climates like Boston. Their journey shows that with the right support, you can enjoy a comfortable, efficient, and climate-friendly home.
Interested in starting your home electrification journey?
Extra, extra, read all about it – we’ve done something we think is pretty dang cool. We’re excited to announce that after three fantastic years in business, we’ve achieved Certified B Corporation status!
Read on below to learn more about what a B Corp is and what it means for a company like ours to make the commitment to the work of a Certified B Corporation.
What is a B Corp?
We’ve got the quickest B Corporation definition: put simply, it affirms that a business has voluntarily met the highest standards for social and environmental performance.
Here’s the longer explanation: the “B” in B Corporation (or B Corp, as it more commonly goes by) stands for benefit. It’s not just a feel-good statement, it’s a pretty big deal. B Corps are certified by B Lab, a nonprofit organization founded in 2006. Theycreated the organization in the hopes of transforming the global economy to benefit people, communities, and the planet. The B Corp certification means that a company voluntarily meets certain standards of transparency, accountability, sustainability, and performance, as defined by the organizing body. Beyond that, companies that have achieved a Certified B Corp status aim to create value for more than their shareholders; they are also accountable to other important stakeholders, like their employees, communities, customers, suppliers, and the environment.
B Corps are globally recognized (there are over8,600 B Corps worldwide), and must recertify every three years to hold their status, meaning they’re continuing this work beyond their certification date. This is a powerful enforcing mechanism that ensures that B Corps maintain the high standards set by the certification.
We’ll be in good company among the other members, which include Ben & Jerry’s, Patagonia, and Allbirds. These companies are known for being straightforward and clear about their commitment to the work of bettering people, communities, and the planet – similar to companies that meet ESG investment standards.
Q&A: Why pursue a B Corp certification?
We’ve been working since day one to #ElectrifyEverything, and this certification is a testament to the dedication of our team and our mission to combat climate change, one heat pump installation at a time. As part of our B Corp certification, we’re required to uphold the values of sustainability alongside transparency, accountability, and performance in all of the work that we do. And it’s not just a one-and-done certification – we are required to uphold this to continue holding the title.
We interviewed our co-founder, DR Richardson, about his perspective on this exciting milestone:
Q: What does this certification mean to you and the broader work of Elephant Energy?
A: Earning the B Corp certification is a huge milestone for us. It’s a testament to our amazing team – and validation of our approach to using our strength for good. It also signifies that our commitment to sustainability and best-in-class business practices extends beyond our core product offering.
Q: More tactically, how will the certification impact Elephant’s day-to-day work?
A: This certification verifies that Elephant Energy operates with social responsibility in mind, considering the impact of our business on our employees, communities, and the environment. This focus on a triple bottom line – profit, people, and planet – further positions Elephant Energy as a leader in the climate-tech andelectrification industry. Said another way, how many home services businesses do you know are actually B Corps?
Q: Why was earning this certification a priority for the Elephant Energy team?
A: Since our founding, we’ve been mission-driven to make as the biggest positive impact on the world that we can. While reducing carbon emissions is our “why”, how we conduct business and treat stakeholders is also hugely important — and the B Corp certification is a testament to the way that we approach that.
DR is right – we’re proud to share our B Corp Certification with the world as our public commitment to do good for people, communities, and the planet alongside doing well for our shareholders.
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Eager to make more climate-friendly choices? Check out our tool,Your Electrification Roadmap®. A few simple questions will get you a personalized plan for a sustainable home. Together, we can make choices that truly make a difference.
If you’ve heard about heat pumps, you may have also heard some rumors: about how heat pumps don’t work well in cold climates, how they are expensive to purchase and operate, and maybe even how heat pump technology is too new for the risk of adopting it in your own home.
We’re here to tell you…
Not everything you hear is true!
We’re here to bust some myths.
Let’s dive right in, shall we?
Myth: heat pumps don’t work in cold climates
Busted! This one is our favorite to debunk, hands down. You could say we’re the experts on it, heck, we wrote the ultimate guide for it! Let’s dive into all the reasons why this myth is simply that.
Enter, the cold climate heat pump
Did you know that there are air source heat pumps specifically designed for cold climates? They’re not much different than a traditional heat pump, except they’re built to produce more heat at lower temperatures than non-cold climate rated equipment. While they look similar to a heat pump you might see in a warmer climate, the specially designed internal components are where the magic happens. This allows cold climate heat pumps to operate down to very low temperatures — as low as -20°F!
Even in the cold climates like New England and the Colorado Front Range, heat pumps are rockin’ and rollin’, keeping homes comfortable all winter long. Their efficiency, rated by something called the Heating Seasonal Performance Factor (or HSPF), can operate at a 10 or greater, meaning they’re transferring much more energy than they consume (and that’s what keeps you warm and comfortable in the cold winter months).
Still don’t believe us? Check out the data we gathered about our fleet’s performance during a brutally cold snap in the Denver area.
Myth: heat pumps cost more to operate than furnaces
Busted! There are, of course, costs associated with installing a new HVAC system. But, when you consider the robust incentives available to offset that upfront cost plus the ongoing operational savings (not to mention the quality of life improvements – we have been told by more than one customer their heat pump was “life-changing”) you have yourself one smart investment.
Ready to learn more?
Heat pumps are more efficient than gas-powered furnaces
When it comes to energy efficiency, heat pumps take the win on functionality against their gas-powered counterparts. Heat pumps in general are much more energy efficient than traditional HVAC systems. Why? Because heat pumps use electricity to move heat, rather than creating it by burning fossil fuels.
The efficiency of heat pumps is measured by the Coefficient of Performance (COP), which compares the heat output to the energy input. Heat pumps can have a COP greater than 1, meaning they can move more energy as heat than the electrical energy they consume. Traditional heating systems, such as gas furnaces, typically generate less than one unit of heat for each unit of energy consumed, making their COP less than 1.
So, what does all this mean? Heat pumps are using less energy to heat your home, which in turn can lower your energy bills. Importantly, you won’t see all these savings in the same season. We generally find that our customers see the most savings during the summer months. More on that later!
Total cost of ownership
Let’s say you’re in the market for a new HVAC system and that’s how you stumbled upon this blog post. First, welcome! We’re so glad you’re here. Second, you may be wondering “but what is this all going to cost me?”
Good news for you – we’ve got some handy numbers at the ready.
Upfront cost:
Air source heat pump
Gas furnace
Central/window unit air conditioner
Upfront Cost
$10,000- $25,000*
*Before rebates, which usually range from $2,000 – 10,000
$4,000-$8,000
– $4,500-$15,000 (central) – $300-$800 (window)
The plus of purchasing an energy-efficient heat pump is all the upfront savings made possible by rebates and tax credits (available from the Inflation Reduction Act as well as alongside state, local, and utility rebates).
Operating cost:
Okay, so we know there are great incentives available to offset your installation cost. What about actually running the heat pump?
Here’s some data that can give you a sense — for a test run in Maine (brr, talk about cold winters!), the average cost for different heating systems looked like this:
Heating System
Annual Cost
Heat pump
$1,862
Natural gas furnace
$2,536
Electric baseboard
$5,118
Oil furnace
$5,302
It’s worth noting that there are a lot of factors that can change these numbers – think the efficiency of the heat pump you install, the fuel and electricity prices in your area, and if you’re in a temperate or cold climate. For example, mild climates will definitely have lower operating costs than super cold ones.
Alongside this, there are other important factors that affect the cost of operating a heat pump, including the size and layout of your home (the bigger, the more expensive) and if you’re taking good care of your heat pump (cleaning your filters, calling for maintenance twice a year).
All in all, we generally see our customers saving about $250 per year, and sometimes way more (over $1,000), for those switching from more costly fuel sources. Erin, below, switched from baseboard electric heat.
“I was paying about $300-$500 monthly for electricity in the winter, and adding the heat pump cut my bills in half.” – Erin D., Denver customer
Want to see the exact math for your home? You can do a three part calculation as laid out by Shrink That Footprint.
Of course, when you work with experts (like us), we can model the savings you can expect to see so that you’re going in eyes wide open. Click here to get started!
While this is a high-level summary, it’s important to think about the total cost of ownership for your new heat pump, not just the immediate cost. The cost savings from the up front purchase combined with the lifetime savings from choosing an energy-efficient heat pump (and, the other non-financial benefits like super quiet, even heating) all deserve consideration.
Myth: heat pump technology is too new to be trusted
Busted! We don’t need to burn stuff anymore to stay warm, to cook our food, to drive our cars…it’s simply not necessary in 2024 (and beyond)!
Heat pump technology is tested, tried, and true
You may think to yourself, “if heat pumps are so awesome, why am I just hearing about them now?”
There are a few reasons that could be.
First, it shouldn’t surprise you that the big oil and gas industry doesn’t want you to know about heat pumps. Just as gas lobbies are paying influencers to use gas stoves in their cooking videos, they’re also pushing negative campaigns about heat pumps all over the world. Wild, right?
Second, heat pump technology, while it’s advanced greatly over the last ten years, has been around for longer than we’ve been alive. The technology behind heat pumps is actually over 100 years old. The first heat pump was built by Peter von Rittinger in 1856 while conducting experiments to use water vapor’s latent heat to evaporate salt brine. From there, heat pump technology advanced quickly, and in 1945, John Summer built a full scale water-source heat pump. Following that Robert C. Webber heated his home with the first electric heat pump in 1948. The rest, as they say, is home comfort history!
The advancements of building science and compressor and control technology mean heat pumps have taken center stage in the world of HVAC. For the past two years, heat pumps have outsold gas furnaces in the United States. Pretty cool, right?
Wrapping it up
Heat pumps are a smart piece of technology you can install in your home to incorporate cost savings both upon install and through the life of the product. They work fabulously in cold climates and guarantee a healthier, more comfortable climate-friendly home. The myths…have been busted.
Ready to upgrade to a climate-friendly home? Join us in building a brighter future by electrifying everything, starting with homes. Your choice today shapes our collective tomorrow!
Maybe you’ve heard your friends talking about how their furnace finally died and they made the switch to a heat pump. Perhaps you’ve searched “furnace replacement” and seen the words “heat pump” and been intrigued. You might be looking for ways that can become a better steward to our planet. Or maybe you know the smallest bit about these electrified powerhouses but you don’t quite know where to start.
Don’t worry. We’ve got you covered.
Introducing the best way to take a big bite out of climate change – the heat pump!
Heat pumps are the hot new thing and will be your coolest appliance. And, did you know that the technology behind heat pumps is actually over 100 years old? That’s right – heat pump HVAC systems are in fact not brand new, but rather they have been massively improved over the past 60 years (and especially over the past 10 years).
What is a heat pump?
A classic question! We’re here to make it make sense…without hurting your brain too much.
Air source heat pump systems replace your current furnace (or boiler) and any air conditioning units in your home. They’re powered solely by electricity, which means you’re no longer burning stuff to stay warm, and you’re not using an entire second appliance just to stay cool. That’s right – these heat pumps can both heat and cool your home! But…how?
How does a heat pump work?
Hint: it’s not actually little gnomes
Unlike a furnace or boiler, heat pumps don’t burn fossil fuels, which make them a healthier choice for your family and the environment.
Instead, powered by electricity, air source heat pumps move heat from the air outside of a home to inside and vice versa to heat and cool. Check out the image below for a more visual explanation:
That’s right – a heat pump doesn’t generate heat, it moves existing heat. Even on the very coldest days in very cold places (like Denver and Boston) , there are heat particles in the air. The right cold climate heat pump can take these and move them inside of your home to keep it warm. And in the summer, heat particles are moved from the inside of your home to the outside. Pretty cool (and hot), huh?
What does a heat pump system look like?
There are two common types of air source heat pumps. The first is a ducted system. This works best in homes that already have ductwork and utilize central heating and cooling system, which makes for a pretty seamless transition.
However, if your current ductwork is in poor condition or your home doesn’t have ducts (think, folks with hydronic boiler systems), the right move for your home is likely a ductless mini split heat pump system. Mini splits consist of an indoor unit, usually mounted on your wall or ceiling, and an outdoor unit. They’re connected, and they provide heating and cooling to whichever rooms they’re installed in–without using any ducting. Want to learn more about mini split heat pumps specifically? Check out our ultimate guide here.
No ducts? No problem! Here’s what a mini split would look like in a room in your home.
Mini split heat pumps systems as well as ducted air source heat pump systems all have easy filters to clean and upkeep, ensuring the long life of these awesome electric appliances.
A quick note on energy efficiency
Remember, part of upgrading to a climate-friendly home means you shouldn’t produce more energy than you need. For example, you wouldn’t leave your front door wide open with the AC blasting in 95 degree summer, would you? Probably not. That’s a poor use of energy and not efficient!
The best part about your awesome, energy-efficient heat pump? It’s your electric heater and your electric air conditioning system all in one.
Hey, that’s right. It’s electric!
So, it’s electric…why should I care?
Modern electric appliances that run on heat pumps are better for the environment – in fact, they are 3X more efficient than their fossil-fueled counterparts. And don’t be mistaken, we’re not talking about your grandma’s old school electric resistance HVAC. Heat pumps are the cool, new kids on the block, and WAY more efficient than any other option available today.
Rather than burning stuff to heat your home, you can begin making the switch to reduce your carbon footprint today. A heat pump does exactly that – removes the harmful output of fossil fuels burning in your home and replaces it with the air that simply exists around your home. Plus, if you weatherize, you’re ensuring that you’re living in accordance with your parent’s favorite adage – “don’t heat or cool the whole neighborhood! Shut that door!”
Saving you dollars and solving climate change
Did you know that the average homeowner can save 7 metric tons of CO2 every year by switching to a heat pump? In comparison, you’d save about 1 metric ton of CO2 every year by going fully vegan. Slashing your carbon emissions without ever leaving the house sounds good to us!
And it’s not just reducing your emissions, it’s reducing your spending, too! Because of the high efficiency of these appliances, the average homeowner who switches from a furnace to an air source heat pump will save about $1000 or more a year on utility bills.
The icing on top is that there are incredible incentives available to help offset the cost of installing a heat pump in your home. Thanks to the Inflation Reduction Act (IRA), there are Federal incentives available to everyone in the U.S.. And, in many places, there are also state, and even local rebates available (Colorado and Massachusetts where we operate are two examples).
Heat pumps are a well-loved technology across the United States and around the world (including in cold climates)! Ready to upgrade to a climate-friendly home? Join us in building a brighter future by electrifying everything, starting with homes. Your choice today shapes our collective tomorrow!
