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Saving you Money: Heat Pump

SOUTH PORTLAND (WGME) -- Cold weather is still about five months away, but after such a long winter, folks are already trying to figure out how to afford to heat their homes.

From oil to propane and electrical to natural gas, there are so many options, but what is the best option?

In this week's saving you money, we introduce you to the latest trend in warming up, the heat pump.

Homeowner Greg Dorsey says over the winter, he would have to get oil every three or four weeks.  One hundred gallons would come out to three hundred seventy five dollars.

Dorsey said enough is enough and decided to install a heat pump back in February.

From the middle of that month to the end of July he has only used forty gallons of oil.

He says you really notice the different in the energy bill.  He estimates it saves him sixty percent.

It's not just keeping you warm in the winter, heat pumps act as AC's in the summer and keep you cool.

According to Goggin's Energy, five thousand heat pumps have been installed over the past twenty four months.  In the province of Nova Scotia, there have been twenty four thousand installed over the past year.

Heat pumps cost between fifteen hundred and seventy five hundred dollars and now you can get a five hundred incentive from Efficiency Maine.