10/15/2026
Interesting
From The Working Man’s Truth article:
ARE HEAT PUMPS WORTH IT? WE RAN THE NUMBERS.
With oil near $6 a gallon, everybody's asking about heat pumps. So we looked at what they really cost, what they really save, and what nobody tells you.
WHAT IT COSTS TO PUT ONE IN
A single unit to heat one room or one floor runs about $3,800 to $7,500 installed. A system to heat the whole house runs about $10,000 to $17,000, sometimes more.
Efficiency Maine offers rebates based on your income. Most families can get somewhere around $1,000 to $3,000. Lower-income households can get more. Check their website for what you qualify for.
One thing you should know: the federal tax credit for heat pumps ended last December. There's no federal credit this year. If a contractor tells you otherwise, he's wrong.
And if your house has old 100-amp electrical service, you may need a panel upgrade first. That's extra.
WHAT IT SAVES
Using the state's own prices from October 5th, here's a typical Maine home that burns about 800 gallons of oil a winter.
On oil at $5.97 a gallon, that's about $4,780 a year.
To get the same heat from a heat pump, it's about $2,820 a year in electricity.
That's about $1,950 a year saved. On a $12,000 system after rebates, it pays for itself in about six years.
WHAT NOBODY TELLS YOU
That heat pump will use about 9,400 extra kilowatt-hours a year. That's more electricity than most Maine homes use for everything else combined. Your electric bill could double, or more, in January and February. You're not saving money on energy. You're moving the bill from the oil company to the power company.
And here's the big one. The savings only work because oil is so high right now. Two years ago, heating oil was $3.39 a gallon. At that price, oil and a heat pump cost about the same to run. If oil drops and electric rates keep climbing like they have, up 72 percent for CMP customers since 2020, the savings could disappear.
Heat pumps also lose efficiency on the coldest nights. Most Maine homes that put one in still keep the oil furnace as backup.
THE BOTTOM LINE
A heat pump can save real money, especially if you heat with electric baseboard, kerosene, or burn a lot of oil. A single unit in your main living area can cut your oil use without the big price tag.
But it's not free money. It's a bet that electricity stays cheaper than oil. And with the way Augusta and the power companies have handled electric rates, that's not a sure bet.
Do the math for your own house before you sign anything.
Working Man's Truth - No Spin. Just Truth.