this post was submitted on 24 Sep 2023
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I'm going through this right now with my state (MA). After a lot of talking and finding non-shit vendors and quotes and stuff I've got an application into the state program. About $28k total to remove oil from my home completely in favor of heatpumps and a new water heater. State will give us a 10k rebate and a loan where they pay 7 years of interest. So that works out to 10k upfront we get back and then 7 years of $225/month payments.
We pay $300/month for oil. And that price is always getting higher.
Edit: worth mentioning that we are going for a full whole home rebate - to get the full 10k we are required to heat the same areas to the same heat load to qualify. We could have gone for a partial rebate and done a hybrid oil heat pump system. (Which didn't seem to be a good idea long term with oil costs)
Why so expensive? That's the price of our geothermal system with its really expensive well.
5 indoor units, 2 outdoor units, new water tank, electric work, boiler and oil tank both got to get chopped up safely before being brought out. Went through several vendors to get the project under 30k.
And it's New England so the heat pumps have to be hyper heat units that function in winter. We are getting units that will heat to 70 degrees inside at -13deg outside and functions down to -22. (All F)
wow, we paid $16k for 4 indoor units/1 outdoor unit (we can add 1 more indoor unit in case we re-do the basement). $2k for the heat pump hot water heater. $1k to have the oil tank removed. $19k total. for the mini split/water heater we got a 1% loan from the state.
we're in new england and got the mitsubishi hyper heats. this was all pre-covid but wow that is an expensive quote.
For reference the cheapest heat pump water heater I was able to get quoted (4 companies quoted) was $6k. We elected to get a non efficient water tank at $1900. 2023.
I think covid drove up the cost for sure. And I think certain contractors are inflating the price for the rebate. 2 of 4 companies gave me 50k plus quotes even without duct work. Maybe that was the fuck you we don't have the people to do it please go away price though I dunno.