$49 / month O.A.C Including Install
$49 / month O.A.C Including Install

Will a Heat Pump Save You Money?

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Will a Heat Pump Save You Money?

Posted On: January 29, 2024

Will a Heat Pump Save You Money?

Whether a heat pump will save you money depends on various factors including your location, energy prices, the efficiency of your current heating system, and the efficiency of the heat pump itself.


Here are some considerations:


Efficiency of Heat Pump: Heat pumps are generally more efficient than traditional heating systems like electric furnaces or baseboard heaters.


They work by transferring heat rather than generating it, so they can provide the same amount of heating using less energy.


Climate: Heat pumps are most efficient in moderate climates.


They extract heat from the outside air (air-source heat pumps) or from the ground (ground-source or geothermal heat pumps).


In very cold climates, air-source heat pumps may become less efficient, but ground-source heat pumps can still operate efficiently.


Energy Prices: Compare the cost of electricity (which powers heat pumps) to the cost of the fuel your current heating system uses (e.g., natural gas, oil).


In some areas, electricity is cheaper than other fuels, making heat pumps a cost-effective option.


Existing Heating System Efficiency: If you're replacing an old, inefficient heating system with a heat pump, you're likely to see significant savings on your energy bills.


Installation Costs: Heat pumps can have higher upfront costs compared to traditional heating systems.


However, there may be rebates, incentives, or tax credits available that can offset some of these costs.


Maintenance Costs: Heat pumps generally require less maintenance than traditional heating systems, which can result in long-term savings.


Lifestyle Factors: Your heating habits and lifestyle can also impact the potential savings with a heat pump.


For example, if you frequently adjust the temperature in your home or if you're away often, a programmable or smart thermostat can enhance the efficiency of a heat pump and help save money.


Before deciding on a heat pump, it's essential to conduct a thorough analysis of your specific situation, including the factors mentioned above, to determine whether it will save you money in the long run.


Consulting with a heating and cooling professional can also provide valuable insights tailored to your home and climate.



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See What Our Customers Are Saying:

by Paul, Toronto on Twintech Heating and Cooling

This is the second time we have had Twintech to our house. A couple of summers ago they were in for an issue with our air conditioning. This time it was our furnace having an issue. It was shutting off randomly and not coming back on. Greg came right away and took the time to investigate thoroughly and explain what was going with the furnace. Both times I have been thoroughly impressed with their speed, customer service, and quality of work. I HIGHLY recommend Twintech.

by Private User on Twintech Heating and Cooling

Extremely happy.
So we were in no rush to replace our old units and took the time to do some research and get a number of quotes.
Twintech came in at around the middle of the pack for price but what convinced us to go with them was Bob, the representative that came to our house. Bob was by far the most professional of all the reps that we met with. He took the time to explain everything, what would work best for us and why. He really did seem very knowledgeable and enthusiastic about his stuff.
As promised on the day of install the crew showed up on time and got to work with minimal impact on us
..they were professional, clean, tidy and got the system up and running ahead of schedule...they made a couple of adjustments to the system to optimize it for our house.
The crew left the house clean and tidy.
Bob the rep showed up to check in and give us a few tips ..
It's been a week since install and all is good.
Our overall experience with Twintech has been excellent from start to finish and I wouldn't hesitate to recommend them.
Thank u.

by Private User on Twintech Heating and Cooling

It was a refreshing experience interacting with the Twintech team. From Bob, the sales consultant, who articulated in layman's terms all the options available and reasons for making any selection. This was done without the prevailing pressure tactics so commonplace today.

Before proceeding Mitch, the technician, at our request conducted a service check on our 30 yr old furnace. His report was positive indicating no urgency to replace it. Again no pressure tactics.

Three days after first meeting with Bob, the installation team of Greg and
Spencer completed the installation within the planned time frame.

A very professional, courteous and transparent team which delivered on their promise. I highly recommend Twintech.

by Private User on Twintech Heating and Cooling

Initial contact with sales resulted in an immediate response, which led to a timely installation. Both sales and installers were all very professional. I have no hesitation in recommending TWINTECH.

by Private User on Twintech Heating and Cooling

I had a great experience with TwinTech. The company offered a reasonable quote, and performed a quick and clean installation. The installer Greg was experienced, professional and courteous. He explained the services he performed and gave recommendations on maintain the new furnace.

The salesman Bob was honest
and professional and educated me on how to achieve optimal performance.

All communication from them was quick and they came the following day. I was pleased with the service and would recommend them.

by Lousan, Ajax on Twintech Heating and Cooling

From quote, to installation, to follow up, Twintech provided excellent service. I would highly recommended their services.

by John, Pickering on Twintech Heating and Cooling

I had a really great experience with these guys. The salesman Bob was clearly very knowledgeable about everything to do with heating and cooling a home, spent a lot of time with us going over the details of the job, never rushed us and came back after the install to make sure we were happy. The installation crew was excellent, they covered the floors all the way from outside down to the basement furnace room, kept the place clean, got the work done on time and we’re very friendly. I’ve got 15 years in the contracting/ construction industry and these guys are one of the most professional company’s I’ve dealt with. Great company!

by Debra Robertson on Twintech Heating and Cooling

Had great service and clean-up was good. Was happy with my salesman. They were very friendly and helpful. I needed a new furnace as our was over 20 years old. The furnace and air-conditioner work great and they are very quiet. I am very pleased with the service and product I received.

by Private User on Twintech Heating and Cooling

Met with Dave for the sales process and he was great about explaining and going over everything to us. The install happened very quickly and the team were super professional and friendly. We are very happy with this company and their services and we definitely recommend them to others. Thankful my sister recommended them to me!

by Private User on Twintech Heating and Cooling

Reviews for Twintech were good, and they did not disappoint. After an initial visit to discuss the suitable AC unit for replacement, an installation date was available in just a couple of days, and everything was installed without a hitch. Highly recommended

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See What Our Customers Are Saying:

by Aaron on Twintech Heating and Cooling

We are very happy to recommend this company to everyone. Our furnace broke down on Sunday morning. We phoned them and before noon Grant the owner showed up. He worked on the furnace for about a hour not wanting to give up to fix the problem. The furnace was 17 years old. I was the one talking about replacing it. End result was the next day it was all done. On the Sunday Bob came over with heaters to warm up the house. We decided to replace the water heater at the same time. Thanks Grant for the excellent work. Thumbs up.

by Linda on Twintech Heating and Cooling

Right on time. Explained how to work the HRV in a different way so the house would not be so dry. Changed my whole house water filter for me as well. Friendly, helpful, caring service!

by Robert Rogers on Twintech Heating and Cooling

Very pleased with the professional service that TwinTech Heating and Cooling provided in replacing my furnace. I got several quotes from different service providers. Their price was excellent and they explained the features very well. We are very glad we went with TwinTech and highly recommend their services.

by Robert Mizuno on Twintech Heating and Cooling

We were new homeowners in need of a second opinion. TwinTech Heating & Cooling were Amazing and professional. Very knowledgeable and great service all around. Recommend to anyone looking for honest and reliable services. Treated with respect and care. Thank you Greg, Mitch and Bob!

by Ruth on Twintech Heating and Cooling

TwinTech is an excellent and honest company! I called them for a second opinion after being told by another company that I needed to replace my furnace. Turns out this was not the case at all! I did not need a new furnace. TwinTech did not push to make an unnecessary sale and saved me from a huge expense. Bob and Mitch were extremely professional and above all honest! I definitely recommend TwinTech!

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  • - September 11, 2019

There is no denying that each year, our summers are getting warmer and winters are getting colder. For homeowners, the cost to heat or cool a home can be expensive. At Twintech, we have some helpful tips on how to save money on your next energy bill.

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