Heat pump payback ranges from 2 years in Rhode Island (thanks to $11,500 in rebates) to 8+ years in Pennsylvania. This state-by-state breakdown shows exact costs, incentives, and timelines.
Home Electrification Experts — Full-Service Design to Install, 9 States
New Hampshire Heat Pump ROI at a Glance
Net Cost
$11,750
After $1,250 rebate
Annual Savings
$1,950
vs oil heating
Payback
6 years
break-even
10-Year Savings
$7,750
cumulative net
Full Cost Breakdown
| Item | Amount |
|---|---|
| Installed cost (whole-home cold-climate system) | $13,000 |
| NHSaves rebate | -$1,250 |
| Net cost | $11,750 |
Annual Savings Calculation
| Metric | Oil Heating | Heat Pump |
|---|---|---|
| Fuel price | $3.69/gal | $0.25/kWh |
| Annual cost | $2,800 | $850 |
| Annual savings | $1,950/year |
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Cumulative Savings Timeline
| Year | Cumulative Savings | Net Position |
|---|---|---|
| Year 1 | $1,950 | $-9,800 |
| Year 2 | $3,900 | $-7,850 |
| Year 3 | $5,850 | $-5,900 |
| Year 5 | $9,750 | $-2,000 |
| Year 7 | $13,650 | +$1,900 |
| Year 10 | $19,500 | +$7,750 |
| Year 15 | $29,250 | +$17,500 |
Assumptions and Methodology
- Installation cost: typical 2.5-3 ton whole-home cold-climate system
- Oil prices: current EIA residential heating oil data for New Hampshire
- Electricity rates: current EIA residential rate for New Hampshire
- Heat pump COP: average 3.0 across heating season
- Oil consumption: 800 gallons/year for typical 2,000 sqft home
- Does not account for fuel price escalation (which typically favors heat pumps)
Heat Pump ROI in Other States
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Frequently Asked Questions
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