The type of heat pump, capacity, brand, and installation requirements are some of the variables that affect the cost of a heat pump with installation. Prices range from $3,000 to $8,000 or more on average. On the top end of the spectrum could be models with advanced features or great efficiency. The cost of local labor and any necessary repairs to the current HVAC system may also have an effect on the final cost. Pricing is more accurate when quotations are obtained from reliable HVAC specialists.