Exploring the Cost Savings of Investing in a Mini Split Heat Pump

After yet another frustrating furnace breakdown, you’re ready to say goodbye to your traditional HVAC for good. You’ve heard great things about mini split heat pumps, and while you’re interested, you haven’t entirely made up your mind yet.

Before you can, you must know how much money you can save if you invest in a mini split heat pump. Allow us to answer that question for you today.

We’ll use examples throughout this post, so while these are figures you can aspire to, they’re not necessarily the precise savings you’ll experience with a ductless mini split heat pump.

Okay, so let’s set up the example. You bought a mini split heat pump that operates at 24,000 British thermal units. It has a seasonal energy efficiency ratio or SEER rating of 18.  In your neighborhood, you pay $0.132 per kilowatt-hour for electricity.

Your mini split heat pump costs $0.18 to run per hour.

If you use your mini split heat pump for eight hours per day, you’ll spend $1.44 per day on electricity. Your per-week costs would be $10.08. Per month, you’d spend $40.32, which is a very reasonable sum.

If you keep your heat on for 24 hours, you’ll spend $4.32 per day to run the mini split heat pump. Each week, that’s a total of $30.24 spent on electricity, and each month, $120.96.

Let’s say you use a heavier-duty heat pump that runs on 40,000 BTUs. It also has a higher SEER rating of 22. The cost of electricity per kWh is still $0.132.

In this case, you’d spend $0.24 an hour to use your mini split heat pump.

Using the heat pump for eight hours a day would cost you $1.92 per day. Each week, you’d spend $13.44 on the mini split heat pump electricity costs, and each month, $53.76.

Even if the mini split heat pump never turned off and ran 24 hours, it would cost you only $5.76 per day. You’d spend $40.32 per week and $161.28 per month.

Depending on what your current heating solution looks like, switching to a mini split heat pump can save you hundreds to thousands of dollars per year and even tens of thousands of dollars over 10 or 15 years (or longer!).

There are yet more other ways that a mini split heat pump can save you cash besides using it. The installation costs are less because there’s no need for the technicians to add yet more costly ductwork to your home.

Your mini split heat pump, lacking ducts, doesn’t lose warm air as it’s transferred through the system, which often happens with ductwork. Rather, the heat can come right through the air-handling unit and keep you and your loved ones cozy.

Ductless mini splits also warm by zone, depositing targeted heating in specific zones or areas rather than blasting the whole house with the same level of heat.

It’s for all these reasons that you’ll have more money in your pocket month after month and year after year if you choose a mini split heat pump!