Heat pump installation costs and rebates

Heat pump installation costs and rebates



Heat Pump Savings Calculator

Fill out our online calculator to estimate how much money you'll be saving as well as how low your emissions will be after switching to a heat pump.

ABOUT YOUR HOME

Efficiency: N/A%

Heat Pump Displacement: %

Your estimated annual heating cost: $

Interested in Financing?

You can finance your Heat Pump purchase with NS Power. We are always available for questions.

Estimated Monthly Charge $218.61
Contact us about financing

Footnotes

  • Savings are an estimate only and may very based on unique characteristics of your home. Nova Scotia Power Inc. does not make any representations or warranty, express or implied, as to the accuracy or completeness of this information. Please contact a contractor for further details. The calculations set out above are based on the following factors and assumptions:
  • If the projected heat pump displacement does not equal 100%, the remaining heat required is assumed to be the current heat source and is included in the calculation.
  • Assumes normal weather year.
  • All heat source costs are updated quarterly.
  • As of January 2017, assumes the following heat source costs:
    • Oil - 1 to 1.1 $/L
    • Electricity - 0.1533 $/kWh
    • Wood - 250 $/Cord
    • Wood - 314.5 $/Ton
    • Natural Gas - 19.395 $/GJ
  • Assumes COP (Coefficient of performance) of 2.88.
  • Assumes average temperature of 18 degrees Celsius.
  • Maintenance costs approximately $100-$200 per year.
  • Capital costs and maintenance do not include tax.
  • Nova Scotia Power financing program amounts based on 7% financing for 3-10 year terms. Rates are subject to change.
  • Assumes an 18000 BTU heat pump size. This could vary.
  • Assumes approximately 1 heat pump per 1,000 square feet of living space.
  • Average Nova Scotian produces 400kg in garbage per year.
  • Environmental benefits analysis completed by Cape Breton University’s Verschuren Centre.

 

 

Purchase and installation costs

Switching to a heat pump is often easier and less expensive than you might think. The average cost of an installed ductless heat pump with one indoor heating/cooling zone is between $3,500 and $5,000. Additional heating zones and greater heating capacities will increase the cost of the system. Other factors that will affect the cost of an installed system include the brand, model, warranty, and installation requirements. We recommend you get at least three quotes from qualified contractors.

Installation and rebates

We work with a network of trusted contractors who can help to install your heat pump. From scheduling a home visit, providing you with a quote, through to installing your new heat pump, our contractors are there every step of the way. Some of our participating contractors offer rebates on the heat pumps they install. See current offers here: Contractor Rebates.

Also, Efficiency One—the independent, non-profit organization that oversees energy efficiency programs in Nova Scotia—offers incentives on heat pumps. For more information visit www.efficiencyns.ca or call 1-877-999-6035.

On-bill financing

heat pump on bill financing

We can help you invest in the benefits of a heat pump through our easy, on-bill financing options. This way, you can add payments directly onto your power bill.

Get Estimates

You’ll need to get a quote from our list of participating contractors. We recommend getting at least three different quotes to compare options and pricing.

Credit Application

Once you’ve chosen a contractor, they’ll help you complete a credit application form which will then be shared with our team to review.

Approval

Once you’re approved, we’ll get in touch with your contractor and they will arrange the installation.

INTEREST RATETERMDETAILS
7.0%3 to 12 yearsLease-to-own - at the end of the term of the lease, and the payment of one dollar, ownership is transferred. The lease is also transferrable to an approved buyer in the event of the sale of the home. If account is terminated the outstanding balance is billed in full. The financing covers the total price, including installation and taxes.
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Questions?

Call us at 1-800-428-6774 outside of HRM, weekdays 8 a.m. to 8 p.m.