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Save Money with Heat Pumps

Compare The Savings Between Your Fuel Source & Heat Pumps

Heat Pumps are one of the most cost-effective methods to heat a building. See the chart below for a comparison of how your fuel type compares to Air Source Heat Pumps.

Fuel type Price Unit Heat Content Per Unit (BTU) System effciency Price Per million BTU
Fuel Oil (#2) $3.02/gallon 138,500 80% $27.21
Propane $3.10/gallon 91,333 80% $42.49
Kerosene $3.49/gallon 135,000 80% $32.33
Electricity-Resistance Heat $0.17/kWh 3,412 100% $50.50
Electricity-Air Source Heat Pump $0.17/kWh 3,412 250% $20.20
Wood Pellets (Bulk Delivered ton) $282.00 16,500,000 80% $21.36
Wood Pellets (Bag Ton) $277.52 16,500,000 80% $21.02
Wood (cord) $106.67 20,000,000 50% $10.67

Source: NH Office of Strategic Initiatives

calculator iconWe have created a simple calculator to let you see your potential savings when you choose to heat your building with a heat pump.

Please note that NHEC recommends that you get a qualified heating contractor to visit your business to determine what size system would work best for your situation and estimate the cost of installation.

If you are planning to build a new facility, undertaking major renovations of an existing facility, or replacing failed equipment such as motors and HVAC equipment, the New Equipment and Construction Program offers prescriptive and custom incentives for qualified measures that will help you improve the efficiency, comfort and value of your facility.

Weatherization is often the first step! Sealing cracks and leaks is the best way to gain efficiency in your facility.   Financial incentives of up to 35% of the installed cost of air sealing and insulation are available to NHEC members.  Find out if your eligible – complete the Commercial Project Form today!

For more information regarding Heat Pumps and available commercial incentives, please contact Joe Lajewski at lajewskij@nhec.com or  call 603.536.8663.