Our friends in town switched from oil to a heat pump and while they’re not burning oil anymore, they’re electricity bill went through the roof over the winter. In order for a heat pump to make financial sense imo, you need solar. Unfortunately they live in a heavily shaded area with massive oaks on their property.
I looked into heat pumps to eventually replace our two AC units. They have a few years left. The thought is if we’re going to spend the money on new AC units, we might as well get heat pumps, add an electric hot water heater, install solar, and get rid of oil. However, the electrical usage will sky rocket. The projected solar system would barely cover our existing usage, let alone the increase from heat pump and electric hot water. I did the math and there really aren’t any savings. It’s more of a feel good environmental change, unfortunately.
I don’t understand your heat pump rebate post though. I was quoted $13k for a mid grade heat pump system. What would the final cost be after the rebates?