Heat Pump.....will it really save me money?
I recently moves into a new house in Mass, a 1650 sq ft house built in 1998. We have a 1 zone central AC - Rheem 10 seer 3 ton and a 2 zone heating system - Burnham Boiler (tankless water heater) that has 80% efficiency but is oversized for the house.
The 1st investment we made was to install a solar PV system as in MA the incentives are great and payback is about 4 years. We have no option for natural gas, so heat pumps seems like a great option to curb heating costs and utilize the cheap electricity.
I received the following quote:
Bryant Evolution Extreme Cold Climate Hybrid Heat Pump
20 SEER 13 HSPF
3 ton 280ANV036 and FE4003
1 Bryant Evolution thermostat control
Electromagnetic HEPA filter
Is this system any different than other heat pumps, what makes it perform better in cold temps? I am struggling to quantify the cost to operate this system in cold temps and when you would use oil to back-up.
What other systems should i investigate for competitive quotes?
Thanks for your help!