The cost to install a heat pump in Denver averages out to about $8,000. However, some installations cost as little as $5,000 and some as much as $11,000.
With a $6,000 gap between the lowest and highest prices, you’re probably wondering why the price range is so wide.
Generally speaking, the price of a heat pump installation comes down to four factors:
In this blog, we’ll review all four of the above factors to help you ballpark where on the price range your heat pump installation will cost.
Cost Factor #1: Size of Heat Pump
The larger the heat pump is, the more expensive the installation will be.
When we talk about heat pump size, we aren’t referring to the physical dimensions of the heat pump. Heat pump sizes are measured in “tonnage,” which is the heating or cooling capacity of the pump. So, the bigger the heat pump, the more heat a heat pump can move in/out of your home within an hour.
Most residential heat pumps are 1 – 5 tons — but that doesn’t mean you should automatically go buy a 5‑ton heat pump for maximum heating or cooling capacity. It’s important to select a heat pump that is the right size for your home. Having an undersized or oversized heat pump can lead to problems that will end up costing you money in the long run.
For example, an oversized heat pump will cycle on and off too often, which can cause the system to break down faster and may require more frequent repairs due to breakdowns. An oversized heat pump can also cause uneven temperatures as the main areas of the home will reach the set thermostat temperature sooner while harder-to-heat areas of your home will still be cool.
This can also cause uneven temperatures as the thermostat can be satisfied and turn the system off before the house has a chance to get upto temp in the longer, harder to heat and cool areas.
Meanwhile, an undersized heat pump will endlessly struggle to keep your home at your set temperature. An undersized heat pump that has to run constantly to keep up with your demands can cause your energy bills to go up and will age faster.
To determine the best heat pump size for your home, schedule an appointment with an HVAC contractor to perform a load calculation. This load calculation takes into consideration factors, such as:
- Number of people in your household
- Number of doors, windows and rooms in your home
- Condition of your home’s insulation and ductwork
- Orientation of your home and how well shaded your home is
- And many other factors
A thorough load calculation is vital to making sure you obtain the right heat pump size, which can help you lower your energy bills, extend your system’s lifespan and stay comfortable in your home.
Cost Factor #2: Efficiency of Heat Pump
The more efficient your heat pump is, the more expensive your heat pump installation will be. That said, highly-efficient heat pumps can help you save money over the lifespan of your heat pump by reducing your monthly energy bills.
Heat pumps have two efficiency ratings that can help you compare the energy efficiency of different heat pumps.
- SEER (Seasonal Energy Efficiency) measures cooling efficiency
- HSPF (Heating Seasonal Performance Factor) measures heating efficiency
Let’s look at the efficiency ratings in more detail:
A SEER rating measures how much energy a heat pump consumes to cool your home. Most residential heat pumps have a SEER rating of 13 – 18+.
The higher the heat pump’s SEER rating, the less energy it needs to consume. High-SEER heat pumps cost more upfront to install. However, because they’re more energy-efficient, they can help you save long term on your energy bills.
For most Denver homeowners, we recommend a SEER rating above 15.
Heat pumps can both heat and cool a home. Since SEER only measures a heat pump’s cooling efficiency, another rating called HSPF measures a heat pump’s heating efficiency. HSPF ratings go from 8.2 to 10. The higher a heat pump’s HSPF rating, the more efficient the heat pump is at heating your home.
For most Denver homeowners, we recommend an HSPF score between 8.2 and 9.
Cost Factor #3: Length of Heat Pump’s Warranties
Adding extended warranties to your heat pump installation will increase your costs but can help you save money in the long run. Extended warranties can protect you from breakdowns and expensive repairs for longer than standard warranties will.
Extended warranties can be broken down into two categories:
- Parts warranties: The parts warranty is determined by the manufacturer of your heat pump. Standard parts warranties last for 5 – 10 years and, in the event of a manufacturing defect, will cover the cost of fixing or replacing most heat pump parts. If you opt for an extended parts warranty, you’ll pay more upfront but it will cover more parts and last longer.
- Labor warranties: Labor warranties are determined by the contractor that installed your heat pump. Standard labor warranties last for 1 – 5 years and will cover the cost of labor to repair an installation mistake. Extended labor warranties typically last for more than 5 years.
Cost Factor #4: HVAC Contractor You Choose
The more experienced the HVAC contractor, the more they will likely charge for their installation services. Don’t let the higher upfront price deter you. Their experience decreases the likelihood you’ll need system repairs (or a re-do on your installation) down the line.
If you hire a less experienced contractor, you not only run the risk of paying for repeat work, but a poor installation job could also cause the heat pump to run inefficiently, which can increase your monthly bills.
To find a trustworthy heat pump installer in Denver, look for a contractor who has:
- A Colorado license number on their website
- Over 10 years of business history
- Hundreds of 5‑star reviews
- Experience performing load calculations
Ready for a Free Heat Pump Installation Estimate? Contact Cooper Green Team
If you need a new heat pump, contact Cooper Green Team. In the past 40 years, we’ve installed heat pumps for hundreds of Denver homeowners. Our customers’ glowing reviews have helped us get an A+ Better Business Bureau Rating and an Angie’s List Super Service Award.
We also offer a 1‑year renewable labor warranty that will be renewed to match the life of the manufacturer’s warranty when the required maintenance has been completed.
Check Out Why Denver Homeowners Love Our Heat Pump Installations Today.