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Ductless mini-splits from $3,500. Whole-home systems from $12,000. NHSaves rebates cover up to $6,250. No federal tax credit in 2026. Here is exactly what you will pay.
2026 Update: The federal 25C heat pump tax credit expired December 31, 2025. NHSaves utility rebates ($250-$1,250/ton) remain the primary incentive for NH homeowners. Prices on this page reflect installed costs in February 2026.
Installed costs in New Hampshire as of February 2026. Includes equipment, labor, electrical work, and permits.
| System Type | Price Range | Typical Size |
|---|---|---|
| Ductless Mini-Split (Single Zone) | $3,500 - $7,000 | 0.75 - 1.5 tons |
| Ductless Mini-Split (Multi-Zone) | $8,000 - $18,000 | 2 - 5 tons |
| Ducted Central Heat Pump | $12,000 - $22,000 | 2 - 5 tons |
| Hybrid / Dual-Fuel System | $14,000 - $25,000 | 2 - 5 tons |
Prices based on NuWatt installer network data for New Hampshire, February 2026. Actual costs vary by home layout, equipment brand, and installer. Does not include NHSaves rebates.
What size heat pump do you need? System cost scales with capacity. NH homes typically need 3-4 tons for whole-home heating.
A Manual J load calculation is the only reliable way to size a heat pump for your home. It accounts for insulation levels, window area, air leakage, and NH climate data. Avoid contractors who size systems based solely on square footage. An oversized system short-cycles (turning on and off too frequently), which wastes energy and reduces comfort. A properly sized cold-climate heat pump should handle 95%+ of NH heating hours without backup.
See your net cost after NHSaves rebates. Adjust the system type, installation cost, and rebate tier.
Typical range: $12,000 – $22,000
3 tons
Federal 25C credit expired Dec 31, 2025 — not included. NH does not have a 0% HEAT Loan equivalent (that is a Massachusetts Mass Save program).
$250/ton, max $1,250. Available to all NH homeowners installing a qualifying cold-climate heat pump through an NHSaves-participating contractor. Covers most standard installations.
$1,250/ton, max $6,250. Available when replacing electric resistance heating (baseboard, wall heaters, or electric furnace). Requires documentation of existing electric heat system.
What does it cost to heat a typical 2,000 sq ft NH home with each fuel type? Based on current NH energy prices.
A heat pump costs roughly $1,050/year to operate in New Hampshire at current electric rates (~$0.25/kWh). That is $1,750/year less than oil heat, $1,650/year less than propane, and $2,150/year less than electric baseboard. NH does not offer a discounted heat pump electric rate — you pay the standard residential tariff.
A heat pump costs more upfront, but lower operating costs can make up the difference. Here is the full picture for a 3-ton ducted system ($16,000 installed) by fuel type replaced.
How fast does a heat pump pay for itself in New Hampshire? It depends on what fuel you are replacing.
| Replacing | Annual Savings | Net Cost (After Rebate) | Payback |
|---|---|---|---|
| Electric Resistance | $2,150/yr | $9,750 | ~5 years |
| Oil Boiler/Furnace | $1,750/yr | $12,250 | ~7 years |
| Propane Furnace | $1,650/yr | $12,250 | ~7 years |
| Natural Gas Furnace | $350/yr | $14,750 | 40+ years |
Based on 3-ton ducted system at $16,000 installed. Standard rebate ($1,250) used for oil, propane, and gas scenarios. Enhanced rebate ($6,250) used for electric resistance scenario. Operating savings based on NH energy prices as of February 2026.
Common questions about heat pump costs in New Hampshire.
Full rebate details, eligibility, and how to apply.
Read guidePerformance data at -15 degrees F. DOE testing conducted in NH.
Read guideInteractive calculator. NH is #2 in oil-heated homes.
Read guidePropane at $3.62/gal — see your savings with a heat pump.
Read guideNHSaves network, 10-point checklist, and red flags.
Read guideEversource, Liberty, Unitil, NHEC rate comparison.
Read guideLast updated: February 2026. Prices and rebate amounts may change. Contact NuWatt Energy or NHSaves for current information.
NuWatt Energy works with NHSaves-participating contractors across New Hampshire. Get a free assessment, proper Manual J sizing, and help maximizing your rebates.