Gov. Phil Murphy’s recent executive orders set modest 2030 goals for building electrification, goals that will be easier to meet if more homes and businesses install heat pumps for heating and cooling. Some opponents of these goals are now positioning themselves in the public eye as protectors of consumers and the business community. 

Will heat pumps drive up consumers’ monthly energy bills? For many New Jersey households, the answer is a resounding no! A 2021 study from the Acadia Center found that the typical NJ household switching from a gas furnace to an air-source heat pump could save anywhere from $325 to $1,812 per year. Adopters who weatherize their homes and switch from an expensive fuel such as heating oil or propane achieve the most dramatic savings. 

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