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Heat pumps have many advantages, but most homeowners aren t sure how much a heat pump costs to install and operate, compared to normal central air HVAC systems..HomeAdvisor s heat pump installation cost guide offers average cost information reported by customers who have had a heat pump replaced. Enter your zip code for local pricing. rating all factor into the cost of the heat pump. For example, a pump with a higher energy efficiency and HSPF score is typi.y priced higher..If you re lo.ng for an low cost alternative to propane or straight electricity for heating your home, a heat pump might be the right option. Heat pumps are an energy efficient base for your split system. They work best in moderate temperatures, so they re especially useful in southern states. The newest heat pump technology . Trane SEER Package Heat Pump Installed by American Cooling And Heating. This air exchange heat pump buying guide will help you decide whether a heat pump is the right heating and cooling option for your home. Let s start with the bottom line Heat pump prices and the cost of installation..