The potential energy savings from a new heat pump vary based on a number of factors, including your current heating and cooling system, the efficiency of the heat pump, your local climate, and your energy usage habits.. Heat pumps are generally much more efficient than older HVAC systems and electric resistance heating. A qualified HVAC technician can estimate your potential savings based on your specific circumstances. You can also find incentives and rebates in your area by visiting the Database of State Incentives for Renewables & Efficiency (DSIRE).