Heat Pump vs Air Conditioner: Which is Cheaper to Keep Your Home Cool?

Heat pump vs. air conditioner: which is a better option? As electricity costs surge amid what is expected to be one of the hottest summers on record, what can you do to cool off?

White cat sleeps on top of an air-conditioner unit.
(Image credit: Getty Images)

As electricity costs rise and temperatures start to heat up, saving on cooling costs this summer has become a top priority for many. Experts believe that from the Rockies to the East Coast, this summer could very likely be one of the hottest on record, and according to Accuweather, from June through August, temperatures are expected to reach 2 degrees above historical averages across more than half of the country.

As you search for the cheapest and most effective way to beat the heat, you may wonder which is better: a heat pump or air conditioner? Here’s what you need to know about the two.

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.