Heat pump cost in New Jersey (NJ)
A 4-ton standard system installed
$8,600to $13,000
About $4,800 more than replacing a gas furnace like for like — which is the comparison that matters, because a dying furnace means buying something either way.
Does the running cost make it back?
Costs extra
$4,800
Costs a year
$606
Breaks even
Never
At 23.27¢ a kilowatt hour against $1.54 a therm, gas is the cheaper way to make heat in New Jersey. A heat pump here costs more to buy and more to run — the case for one has to be something other than money, such as replacing air conditioning at the same time or getting off gas entirely.
One thing these figures leave out
A heat pump cools as well as heats. If your air conditioner is also near the end of its life, you are replacing two machines with one, and the premium above overstates what you would actually spend. That is the situation where a heat pump wins most clearly, and it is worth checking the age of your AC before deciding.
Common questions
How much does a heat pump cost in New Jersey?
Between about $8,600 and $13,000 installed for a 4-ton standard system in a 1,800 square foot home. That is roughly $4,800 more than replacing a gas furnace like for like.
Is a heat pump worth it in New Jersey?
Not on running cost. Gas is cheap enough in New Jersey that a heat pump costs about $606 a year more to run, on top of $4,800 more to install. That is the honest answer at these prices, whatever the equipment is capable of.
Do I need a cold-climate heat pump in New Jersey?
Probably not. New Jersey sees about 100 freezing nights a year, which a standard air-source heat pump handles without much backup heat. Paying for a cold-climate model here is buying capacity you would rarely use.
For your own home
These describe a 1,800 square foot home. The calculator takes your ZIP code, your floor area and your existing furnace's efficiency.
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Sized from New Jersey's 4,900 heating degree days. Prices from the US Energy Information Administration. Installed costs are a national estimate spread ±20%; ductwork, electrical capacity and how far the lines have to run move real quotes more than the equipment does.