Do Heat Pumps Really Save You Money in Colorado?

Heating device

When it comes to your daily home comfort, few things are as important as picking the right heating and cooling system. There are a number of important factors that you should take into consideration before choosing a heating or cooling system for your home. 

One of the most common factors is energy efficiency. Few units are as energy efficient as heat pumps, which often brings up the question, “do heat pumps really save you money?”

Though they can be costly to purchase and install at first, heat pumps end up being quite cost-effective in the long run, especially air source heat pumps. This can primarily be because of how heat pumps function, but many other factors make heat pumps a great choice for homeowners across Colorado.

If you’re interested in learning the answer to the question, “how do heat pumps save money?” you can check out this article for more information.

Alternatively, if you want to get an air source heat pump installed in your home, you can call our team at IMS Heating & Air today.

The Benefits of Heat Pumps

If you aren’t sure if heat pumps are the best choice for your family and your home, you should take a moment to look at the various benefits that these systems have to offer. Assessing the benefits of heat pumps can help you find the answer to the question that you’ve been asking: will a heat pump save me money? 

Some of the benefits include:

Combined Heating and Cooling

One of the main features a heat pump has is the ability to switch between heating and cooling as the seasons change. Instead of relying on a steady flow of gas or oil to create heat or to run fans for cooling, it instead uses refrigerant. While the name might give the impression that it’s only useful to lower the room’s temperature, the refrigerant is what allows a heat pump to move heat into and out of a home.

With the simple press of a button on your thermostat, the heat pump can easily switch between its set heating and cooling modes. So, if you’ve been wondering, “do heat pumps save money?” the simple answer is yes, because they have the ability to switch modes, which removes the need for separate furnaces and ACs.

Higher Heating and Cooling Efficiency

Of course, a heat pump’s use of refrigerant for both heating and cooling isn’t the only way it can save you money. While you won’t need to spend money on the separate fuel supply for a furnace and an AC, the decreased cost would be pointless if a heat pump isn’t effective.

Fortunately, heat pumps are, in fact, far more efficient at heating and cooling than you might think. While there are other kinds of heat pumps, air source systems are growing in popularity and are becoming readily available across numerous states, including Colorado. 

While they draw in and release heat from the air, heat pumps can often have a heating efficiency of 200% or even more when compared to a furnace. Likewise, its cooling functions are roughly twice that of a window AC and 200% better than a new AC.

With the added benefit that air-source heat pumps use far less energy than other HVAC systems, you might end up saving anywhere from $400 to $1,000 on your monthly bills.

Do Heat Pumps Really Save You Money in the Long Run?

Naturally, there are a few factors that need to be taken into consideration first, many of which can also help you choose the type of heat pump best suited for your living condition. The money you save can also come from different categories depending on the heat pump, whether that’s from being an effective eco-friendly way for heating and cooling or through federal incentives. Considering these factors early on can help you ensure that your home is always comfortable.

The Weather Conditions in Your Location

One of the factors that can influence the answer to the question, “do heat pumps really save you money?” is the climate in your city or town. Heat pumps, like other HVAC systems, have different types of models to suit specific climate needs. Like the air source heat pumps our team at IMS works with, cold climate models are built specifically for effective heating in more extreme winters. 

If you do live further north where the winter months are harsher, choosing a proper cold climate heat pump is the best choice that can save you money. Rather than having to run the system at higher temperatures for longer – as you may need to with a normal heat pump – cold climate models will work just as well.

The Size of Your Home

Your home’s size is another key factor when considering the amount you can save with a heat pump. One of the main cons of larger homes is the need for more energy to heat and cool it. Though it may not seem expensive, switching to a heat pump can often end up saving you a good portion of your energy bill’s cost, though you will also need a larger model! 

How Energy Efficient Your Home Is

Of course, the best factor in the answer to the question, “how do heat pumps save you money?” is that heat pumps can increase the overall energy efficiency of your own home. If you already have energy efficient appliances and fixtures around your home, adding in a heat pump can help you save even more money. 

Additionally, certain home renovations can further emphasize how much money you save with a heat pump. Properly insulating your home and reducing any drafts can help boost a heat pump’s efficiency, allowing it to maximize its heating or cooling throughout the year.


Heat pumps are incredibly useful systems and are becoming more common throughout Colorado. Though many homeowners might question whether or not the system is as efficient as needed, there are lots of different models that can suit different families’ needs. 

Not to mention, installing a heat pump can save you money. In addition to the points listed above, the fact that this system doesn’t require constant fuel to provide heating and cooling can be a massive benefit.

If you’re interested in getting an air source heat pump, cold climate or not, our team at IMS Heating & Air is ready to help.