Florida Heat Pump Leasing & Installation Guide
Benefits of Palmetto Heat Pumps
Say goodbye to clunky old systems and surprise repairs. Palmetto Comfort Plan gives you a brand-new heat pump, installation, and full support, all wrapped into one subscription.
Year Round Comfort
A high-efficiency heat pump keeps your home cool in summer, warm in winter, and your energy use in check all year long.
Forget the maintenance
With a Comfort Plan subscription, installation and maintenance are fully covered, no surprise bills, no weekend DIY.
Rewards for renewing
Stick with us and earn credits toward your next system upgrade. It’s our way of saying thanks for building a cleaner, comfier future with us.
Buy it or finance it. Your comfort, your call
There’s no wrong way to get cozy. Here’s how the options stack up, so you can choose what works best for you.
| Comfort Plan | Cash | Loan | |
|---|---|---|---|
| Payment schedule | $0 upfront, then monthly subscription | Full price upfront | $0 upfront, then monthly payment |
| Term length | 10 or 12 years | None | Variable |
| End of term options | Flexible with 25% renewal term credits to new system | No credits to new system | No credits to new system |
| Maintenance included | |||
| Eligible for incentives |
Federal IRA Tax Credit
Up to $2,000
The Inflation Reduction Act provides a federal tax credit of up to $2,000 for qualifying heat pump installations through 2032.
Eligibility: Available to homeowners who purchase and install a qualifying heat pump system. Claimed on your annual federal tax return.
Palmetto Comfort Plan: $0 Upfront Heat Pump Leasing
Even without local rebates, Palmetto’s Comfort Plan makes upgrading easy. You get a high-efficiency heat pump installed with $0 upfront cost, predictable monthly payments, and all maintenance and repairs included for the life of the plan.
Florida Electricity Prices
Understanding Florida’s electricity costs is essential when considering home heating and cooling options, especially as rates continue to fluctuate.
Florida’s electricity rates have risen significantly in recent years, jumping from 11.9 cents per kWh in 2021 to 14.1 cents in 2024—a nearly 18% increase that impacts every household’s monthly budget.
Heat pumps offer a practical solution to rising energy costs. Because they’re 2-3x more efficient than traditional HVAC systems, they use significantly less electricity to deliver the same comfort, helping offset rate increases.
As electricity rates continue to shift, investing in an efficient heat pump means lower energy consumption for decades. The more rates rise, the more you save compared to conventional heating and cooling systems.
Price of Energy: Florida vs National Average
0¢
10¢
20¢
30¢
13.7¢
11.9¢
15.0¢
13.9¢
16.0¢
15.2¢
16.5¢
14.1¢
2021
2022
2023
2024
US Average
Florida
Florida Utility Providers
Florida’s electricity rates vary significantly by provider. According to 2023 data, costs range from about 12¢ to 18¢ per kWh across major utilities—with most falling near the state average of 15.20¢ per kWh.
Municipal utilities and cooperatives like Orlando Utilities Commission and Clay Electric Cooperative typically offer lower rates due to their nonprofit structure and local focus. Investor-owned utilities like Duke Energy Florida tend toward higher rates, reflecting infrastructure investments and regulatory costs.
Heat pumps shine across this pricing spectrum. Their exceptional efficiency means lower electricity consumption regardless of your utility provider—often cutting heating and cooling costs significantly compared to traditional HVAC systems, even in higher-rate areas.
Florida Utilities Electricity Rates
Florida Power & Light Co 15.01¢ - 6%
Duke Energy Florida, LLC 18.05¢ +13%
Tampa Electric Co 16.60¢ +4%
JEA 13.21¢ -17%
Orlando Utilities Comm 12.58¢ -21%
Withlacoochee River Elec Coop 12.32¢ -23%
Lee County Electric Coop, I… 14.52¢ -9%
Sumter Electric Coop, Inc 13.04¢ -18%
Clay Electric Cooperative, … 12.55¢ -22%
City of Lakeland – (FL) 12.26¢ -23%
City of Tallahassee – (FL) 13.03¢ -19%
FL Average 15.20¢ -5%
US Average 16.0¢ —
Florida Heat Pump City Guides
Explore detailed heat pump installation guides for cities across Florida. Each guide includes local utility rates, incentives, and climate-specific recommendations.
Frequently Asked Questions
Do heat pumps work well in Florida?
Yes, heat pumps work exceptionally well in Florida’s climate. Unlike northern states where extreme cold can reduce efficiency, Florida’s mild winters allow heat pumps to operate at peak performance year-round. They provide both heating and cooling in one system, making them ideal for the state’s hot, humid summers and moderate winter temperatures.
How much does a heat pump cost in Florida?
Heat pump costs in Florida typically range from $5,000 to $15,000 for a complete system, depending on your home’s size, the unit’s efficiency rating, and installation complexity.
What are the best heat pump brands for Florida homeowners?
Top heat pump brands for Florida homeowners include Carrier, Trane, Lennox, and Rheem—all known for reliable performance in hot, humid climates.
Are there heat pump rebates available in Florida?
Yes, Florida homeowners can access heat pump rebates through federal programs and some local utility incentives.
Should I lease or buy a heat pump in Florida?
The choice between leasing and buying a heat pump in Florida depends on your financial situation and preferences.
Is a heat pump worth it financially in Florida?
Yes, heat pumps are typically worth it financially in Florida. They use significantly less energy than traditional heating and cooling systems, which translates to lower utility bills.
What size heat pump do I need for my Florida home?
The right heat pump size for your Florida home depends on square footage, insulation quality, ceiling height, and cooling load.