According to the 2024 Heat Pumps and Homeowners Index, a survey of more than 1,000 U.S. homeowners commissioned by Mitsubishi Electric Trane HVAC US LLC, 88% of those surveyed believe heat pumps are more energy-efficient than conventional heating and cooling systems. In addition, 90% of respondents who own a heat pump would recommend them to others.

The top three reasons given for satisfaction include greater energy efficiency (55%), better heating (41%) and greater cost savings (39%).

Given that 93% of respondents with conventional HVAC systems indicate they are concerned about their utility bills, it comes as little surprise that more people are learning about heat pumps. Seventy-three percent of those surveyed have at least some knowledge of this alternative—a number that has increased since last year.

Ownership of heat pumps has also increased, with those ages 31–44 making up the highest percentage (56%) of ownership. Broken down geographically, the Northeast has the most heat pump owners (54%), followed closely by the West (49%) and the South (40%). The Midwest makes up only 20% of heat pump ownership, and 60% of those surveyed have no in-depth knowledge or have never heard of heat pumps.  

Among heat pump owners, 82% said their purchase was influenced by an HVAC contractor.

Other incentives for installing a heat pump include tax credits and rebates at the state and federal level for home upgrades, as well as the desire to add to the value of their home. Almost all homeowners (93%) expressed concern about rising utility bills, with 65% to 66%, respectively, noting that their heating and cooling costs rose last year. Replacing a conventional HVAC system with a heat pump is seen as a way to reduce energy costs by 36% of respondents.

Costs and energy efficiency are key concerns identified by the survey, but many respondents also expressed uneasiness about burning fossil fuels. And yet, they’d rather wait in line at the DMV (22%), get a root canal (19%), be in bumper-to-bumper traffic (14%), take only cold showers (10%) or get a bad haircut (9%) than go without air conditioning.