Answers vary from source to source, but typically most heat pumps are expected to last between 10-15 years, with some up to 20 years. Because heat pumps act as both a furnace and an air conditioner, they technically run all year round. A furnace really only runs in the colder months and an A/C only in the cooler months. This may lead to a “shorter” life span than if compared solely to one of the other appliances. However, the energy savings and no need for a separate A/C and furnace can balance that out.