Installation of an air-source heat pump for an entire home ranges from $2,000 to $8,000, according to CostHelper. The price of a heat pump system varies widely based on whether or not duct work is already in place and the type of heat pump system installed.
While costs vary greatly, the Department of Energy suggests heat pumps offer an energy efficient alternative for homes in moderate climates. An air-source heat pump averages between $4,000 to $5,000 to install, depending on the number of indoor units required. A duel-fuel system that works with an existing furnace costs approximately $2,500 to $5,500 to install. Although costly to install, the Department of Energy suggests a geothermal (ground-source or water-source) heat pump is more efficient because it connects to a nearby water source. Geothermal heat pump can range between $10,000 to $25,000, depending on where the water source is.