Heat pumps are versatile and efficient heating and cooling systems that homeowners prefer over traditional HVAC systems. However, heat pumps may require maintenance or repair with prolonged use, leading homeowners to ponder repairing or outright replacing their units. This article will examine the cost of repairing versus replacing heat pumps to help you make an informed decision.
Cost of Repairing Heat Pumps
Heat pumps experience wear and tear from lengthy use and may require the replacement of refrigerant leaks, electrical components, or heat exchangers. Repair costs vary depending on the severity of damage and may range from a few hundred dollars to over a thousand dollars. Additionally, maintenance costs like changing and cleaning air filters or fixing minor issues will increase the longevity of your heat pump and help save money.
Cost of Replacing Heat Pumps
If a homeowner is considering replacing their heat pump, they should consider the initial unit cost along with its installation and disposal or removal cost. Heat pumps range between $3,000 to $7,500, depending on the size, brand, and installation. The overall cost may increase if a homeowner installs additional ductwork or zoned systems. Once you have decided on a heat pump replacement, check with the contractors to determine if they are eligible for state and local rebates or tax incentives.
Factors to Consider
When weighing the repair cost versus replacing a heat pump, homeowners should consider the unit’s current age. In general, heat pumps have a lifespan of 15 years. If the repair costs are multiplying and the heat pump has exceeded its warranty coverage, it may be best to replace it.
Additionally, suppose the repair cost is worth half the unit replacement cost. In that case, replacing the heat pump outright would make financial sense. However, for minor issues with units within their lifespan that fall within repair warranty coverage, repair it to save money.
Modern heat pumps, Energy Star labeled, and high-efficiency models use less energy, making them cheaper to operate and maintain. Consider investing in a high-efficiency heat pump with an EER of 13 or more for peak comfort and savings. Investing in an energy-efficient model may cost more upfront, but the added cost will pay off with time and save a homeowner about $200 to $300 on their heating and cooling bills annually.
Schedule Regular Maintenance
Schedule regular maintenance to ensure that your heat pump continues to run efficiently. At least twice a year, have an HVAC technician tune up your unit for the best performance. Regular cleaning, inspection, and repair of minor issues will add more years to the heat pumps’ lifespan. Additionally, regular maintenance will identify potential issues before they become pricier problems.
If your heat pump is malfunctioning or requires repairs, weigh the repair cost versus replacement before deciding. Confirm if the repair or replacement costs are worth it for the state of the heat pump. The repair cost may be suitable for minor issues, while outright replacement may be best for heat pumps beyond their warranty and lifespan. Investing in an energy-efficient model may cost more upfront, but it will save thousands over its lifetime.