Ditch the Oil Tank.
Heat Your Home for Less.

Yes. Cold-climate heat pumps like the Mitsubishi Hyper-Heat and Carrier Greenspeed operate efficiently down to -13°F to -15°F. These are not the heat pumps from the 1990s. Modern inverter-driven compressors maintain 60–80% of rated capacity at 5°F and continue producing heat well below 0°F. In the coldest hours of the year, a backup heating element or your existing boiler can supplement — but for 95%+ of winter hours, the heat pump handles everything.

A whole-home cold-climate heat pump system typically costs $12,000–$22,000 installed before rebates. With state incentives — Mass Save ($8,500), Clean Heat RI ($11,500), NJ Whole Home ($7,500), or Energize CT ($3,750) — plus income-qualified HEAR rebates (up to $8,000), net cost can be as low as $4,000–$10,000. Your annual heating savings of $1,000–$3,000 vs oil means payback in 3–7 years.

For the first few years, many homeowners keep their existing boiler as a "comfort backup" for the coldest nights. This is called a dual-fuel or hybrid setup. Over time, most find the heat pump handles 95%+ of heating needs and eventually decommission the boiler. We recommend keeping it for the first winter to build confidence.

If your oil boiler provides hot water (indirect water heater), you will need to replace it when decommissioning the boiler. A heat pump water heater is the most efficient option — it uses the same technology as your HVAC heat pump but for hot water. They cost $2,000–$4,000 installed and qualify for additional state rebates.

If you have existing ductwork in good condition, a ducted heat pump (like the Carrier Greenspeed or Bosch IDS 2.0) replaces your furnace and uses your existing ducts. If you have radiators, baseboard heat, or no ducts, ductless mini-splits (like Mitsubishi Hyper-Heat) are ideal — one outdoor unit connects to wall-mounted indoor units in each zone. Many homes use a combination.