ECONOMICS OF SOLAR-HEAT PUMP HEATING SYSTEMS.

The recent interest in heating homes with heat pumps stems from the facts that: (a) electricity has become the fastest growing form of commercial energy used for heating in new homes; (b) the conservation of electricity is being encouraged due to the rapid escalation in its costs; and (c) heat pumps conserve electricity since they consume less electricity in space heating than conventional electric resistor furnaces. This study develops a methodology for the economic evaluation of the above thesis, examining it for home heating in the state of Illinois.