Water heaters · heat-pump tank
Heat pump water heater cost
A 50-gallon heat-pump tank at UEF 3.3 has a certified national retrofit benchmark of $2,801.84 (2023 USD) low, $3,090.69 (2023 USD) typical, and $3,568.71 (2023 USD) high.
Source year. Based on the NREL REMDB 2024 workbook, HP Tank class, in 2023 dollars.
Geographic scope. United States national modelled benchmark.
Model scope. Heat-pump tank water heaters with nominal volume 40–80 gallons and UEF 3.00–4.07.
Important limitation. This is not an electric-resistance tank price and not a 2026 installed quote.
Certified benchmark values
| Band | Value |
|---|---|
| installed low | $2,801.84 (2023 USD) |
| installed typical | $3,090.69 (2023 USD) |
| installed high | $3,568.71 (2023 USD) |
Benchmark estimator
Results are modelled 2023 USD benchmarks, not a contractor quote.
Modelled benchmark: Low $2,801.84 (2023 USD); typical $3,090.69 (2023 USD); high $3,568.71 (2023 USD)
Formula: retail=248.326452*m1(3.3)+19.331395*m2(50)+286.450878; installed=retail*1+1018.1920401854715. This modelled range is not a contractor quotation.
Typical result $3,090.69 (2023 USD)
What this estimate includes
- UEF and gallon regression
- HP Tank retrofit adder
What moves the number
- Uniform Energy Factor
- Tank gallons
- Electrical capacity, which is not priced on this page
Methodology and sources
- Uses REMDB workbook row for HP Tank only.
- Does not reuse the electric-storage coefficients.
- A panel upgrade, if needed, is a separate certified page.
Primary source: National Residential Efficiency Measures Database 2024.
How to use this result when planning
- Use this page only for a heat-pump tank. Do not scale it from the electric-resistance storage page.
- Certified domain is 40–80 gallons and UEF 3.00–4.07. The default point is 50 gallons at UEF 3.3.
- Electrical capacity is not priced here. If the house needs a 200A panel, that is a separate certified intercept.
Larger in-domain heat-pump tank
Keep the HP Tank class and UEF 3.3. Change only volume from 50 to 66 gallons.
Engine result: Low $3,262.86 (2023 USD); typical $3,399.99 (2023 USD); high $3,702.96 (2023 USD). Formula: retail=248.326452*m1(3.3)+19.331395*m2(66)+286.450878; installed=retail*1+1018.1920401854715. This modelled range is not a contractor quotation.
When to get a contractor quotation
- Get a quote when you know closet volume, condensate drain, and whether the circuit can support the compressor.
- Ask whether the bid includes a new circuit. This modelled retrofit does not add a panel upgrade.
Limitations
- 2023$ historical REMDB retrofit benchmark, not a 2026 contractor quote.
- REMDB may include upstream RSMeans/retail-derived inputs; cite REMDB only.
- HP Tank class only. Volume bounds 40–80 gallons. Independent of electric-storage certification.
Questions this evidence can answer
Why is this higher than a standard electric tank?
The certified HP Tank equation is a different equipment class with its own intercept and retrofit adder. Compare the two pages; do not scale one from the other.