Connecticut homeowners switching from heating oil to heat pumps typically save up to 35% on their utility bills. If you’re currently spending $1,800 or more each winter on heating oil, a heat pump can cut that cost significantly while providing summer cooling too.
Over the heat pump’s 10-15 year lifespan, most homeowners save between $5,000 to $15,000 total. The exact savings depend on your home’s size, insulation quality, and current energy usage, but the financial benefits usually become clear within the first heating season.
Connecticut’s rebate programs make the switch even more attractive. You can claim $250 per ton in state rebates plus up to 30% federal tax credits, which often covers a substantial portion of the installation cost.