Myrtle Beach, SC Heat Pump Leasing & Installation
In this guide
01
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.
02
Myrtle Beach, SC Heat Pump Load Calculator
Our calculator estimates your home’s heating and cooling needs using the square foot method, based on ACCA-standard design conditions for Myrtle Beach, SC: 72°F indoor, 97°F outdoor cooling, and 24°F heating temperatures. For a precise Manual J load calculation and personalized quote, connect with Palmetto’s team. Get in touch with our team for an official quote.
Step 1 of 3
Home location & size
Your home’s location and size directly impact heating needs.
Step 2 of 3
Home attributes
Step 3 of 3
Additional details
Description of what this means for context.
Estimated Heating Needs
Your home’s location falls within the a climate zone with the average extreme winter falling between 10° – 15° F.
Home Details
Recommended equipment capacity
60,000 BTU
5 Tons
Calculated Cooling Mode
102,000 BTU
8.5 Tons
03
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.
|
|
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 |
Cash
Loan
Local Incentives
Heat Pump Financing in Myrtle Beach
While South Carolina's state heat pump rebate programs (HOMES and HEAR) are expected to launch in 2026, they are still in development and not yet active. However, homeowners in Myrtle Beach can take advantage of the federal IRA tax credit of up to $2,000 for qualifying heat pump installations. Palmetto's Comfort Plan lease offers an alternative with $0 upfront cost, allowing homeowners to benefit from heat pump efficiency without the burden of purchasing equipment outright.
Federal IRA Tax Credit
Up to $2,000The Inflation Reduction Act provides a federal tax credit of up to $2,000 for qualifying heat pump installations through 2032.
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.
Incentive information is based on publicly available data as of 2026 and may change. Contact program administrators to verify current availability and eligibility requirements.
04
Climate Zones
Myrtle Beach falls within IECC Climate Zone 9, which means mild winters (design temps around 24°F) and hot, humid summers (design temps near 97°F). This climate is ideal for heat pumps, but sizing matters—your system needs to handle those steamy summer days without being oversized for our relatively gentle winters. At Palmetto, we understand Myrtle Beach's unique conditions and can help you select the right heat pump for year-round comfort. Explore other zones below or enter your ZIP code to confirm yours.
Climate Zone 1
Climate zone 1 is not typically seen within the United States outside of Alaska. It represents the coldest climates on the planet.
Climate Zone 1A
Avg. extreme winters: -60° to -55° F
Climate Zone 1B
Avg. extreme winters: -55° to -50° F
Myrtle Beach Electricity Prices
Understanding electricity costs in Myrtle Beach helps you make smarter decisions about home comfort and long-term savings.
South Carolina electricity rates have climbed steadily from 12.9 cents per kWh in 2021 to 14.1 cents in 2024—a 9% increase that impacts every home's heating and cooling budget.
Heat pumps address rising costs through efficiency. Because they move heat rather than generate it, they deliver 2-3 times more heating or cooling per dollar spent compared to traditional HVAC systems.
As electricity rates continue their upward trend, this efficiency gap becomes increasingly valuable. A heat pump's lower energy consumption means your monthly bills stay manageable even as rates rise over time.
Price of Energy: South Carolina vs National Average
Myrtle Beach Area Utility Providers
Myrtle Beach residents benefit from below-average electricity rates. According to 2023 data, Santee Cooper charges 11.4¢ per kWh, while Dominion Energy charges 14.4¢ per kWh—both lower than the national average of 16.0¢.
South Carolina's competitive electricity market and diverse energy mix help keep rates affordable. The state's reliance on nuclear power and natural gas, combined with lower transmission costs in certain service areas, contributes to these favorable rates.
Even with reasonable electricity costs, heat pumps can further reduce your energy spending. Their exceptional efficiency means they use less electricity than traditional HVAC systems, helping you maximize savings regardless of your utility provider.
Myrtle Beach Utilities Electricity Rates
Let our smart tools do the heavy lifting.
Get personalized tips, usage insights, project tracking, and that daily satisfaction of making your energy work smarter with the Palmetto mobile app.
- Rewards for smarter energy usage
- Energy insights & Dashboard
- Personalized Savings Tools
- Whole Home Energy Management
- Support Whenever You Need It
Repair versus replace
When a heat pump is in need of repair it is worth considering whether a replacement would be a better investment. While each case is unique, we generally recommend investing in a new unit when repairs exceed $5,000.
A heat pump's lifetime is impacted by a number of factors including environment, use and the quality of the unit. It's important to choose the right unit for your climate zone and home's unique attributes.
When you are in need of repair, we recommend choosing a service provider that is an expert in the heat pump brand you have installed, and checking online reviews to ensure you are investing in the right level of service.
| Potential repair | Cost range | Description |
|---|---|---|
| Capacitor Replacement | $150 - $400 | Common issue when unit struggles to start or makes a humming noise. Capacitors store the electrical energy needed to start the compressor and fan motors. |
| Refrigerant Recharge | $250 - $750 | Needed when the system loses cooling or heating efficiency due to low refrigerant levels. Includes leak detection, repair of minor leaks, and recharging the system to the manufacturer-specified level. |
| Reversing Valve Replacement | $450 - $900 | Required when the unit cannot switch between heating and cooling modes. The reversing valve directs refrigerant flow and is unique to heat pump systems. |
| Compressor Replacement | $1,500 - $3,000 | Major repair needed when the unit fails to heat or cool entirely. The compressor is the heart of the system, circulating refrigerant between the indoor and outdoor coils. |
| Evaporator/Condenser Coil Replacement | $1,200 - $2,800 | Replacement needed when coils develop leaks or corrosion that cannot be economically repaired. Coil damage reduces heat transfer efficiency and can cause refrigerant loss. |
| Control Board Replacement | $500 - $1,200 | Required when the system has electrical failures or erratic behavior. The control board manages all system operations including defrost cycles, fan speeds, and compressor staging. |
| Full System Replacement | $4,500 - $8,000+ | When repairs exceed the value of the unit or multiple major components fail simultaneously. Includes removal of the old system and installation of a new heat pump with updated refrigerant lines and electrical connections. |
Frequently Asked Questions
Yes, heat pumps make excellent sense in Myrtle Beach. The area's mild winters (with design temperatures around 24°F) and hot summers (reaching 97°F) create ideal conditions for heat pumps to operate efficiently year-round. They can handle both heating and cooling needs while using significantly less energy than traditional systems, which matters with electricity costs at 14.1¢ per kWh in South Carolina.
Heat pumps work by transferring heat rather than generating it, making them particularly effective in Climate Zone 9 where extreme cold is rare. Myrtle Beach homeowners can access this technology through Palmetto's Comfort Plan with no upfront cost and included maintenance, or through direct purchase to take advantage of federal tax credits up to $2,000 under the Inflation Reduction Act.
Heat pumps are highly efficient in Myrtle Beach's mild coastal climate. As a Climate Zone 9 area with winter lows around 24°F and summer highs near 97°F, heat pumps can maintain efficiency year-round without the extreme temperature challenges found in colder regions. This means lower energy bills compared to traditional heating and cooling systems, especially with South Carolina's current electricity rate of 14.1¢ per kWh.
The moderate temperatures allow heat pumps to operate in their optimal efficiency range most of the year, typically delivering 2-3 times more heating or cooling energy than the electricity they consume. Palmetto makes accessing this efficiency easy through our Comfort Plan with $0 upfront cost and included maintenance, or through direct purchase where you may qualify for up to $2,000 in federal tax credits under the Inflation Reduction Act.
The decision between leasing and buying a heat pump in Myrtle Beach depends on your financial priorities and preferences. Leasing through Palmetto's Comfort Plan requires $0 upfront and includes all maintenance and repairs, making it ideal if you want predictable costs without maintenance responsibilities. Buying outright means you own the equipment and may qualify for up to $2,000 in federal tax credits under the Inflation Reduction Act, plus local rebates.
Consider your long-term plans and budget when deciding. With Myrtle Beach's Climate Zone 9 conditions and South Carolina's 14.1¢ per kWh electricity rate, a heat pump will provide efficient heating and cooling either way. Leasing offers peace of mind with covered repairs, while buying maximizes potential savings through tax incentives and eliminates ongoing payments once the system is paid off.
Heat pump installation costs in Myrtle Beach typically range from $5,000 to $15,000 for a complete system, depending on your home's size, existing ductwork, and the equipment's efficiency rating. Climate Zone 9's mild winters and warm summers make Myrtle Beach ideal for heat pumps, which can significantly reduce your energy bills compared to traditional heating and cooling systems.
Palmetto offers two flexible options to fit your budget: our Comfort Plan with $0 upfront cost and predictable monthly payments that include all maintenance and repairs, or direct purchase where you own the equipment outright and may qualify for up to $2,000 in federal tax credits under the Inflation Reduction Act. Both options give you access to efficient heating and cooling designed for Myrtle Beach's climate.
Yes, heat pumps are typically worth it financially in Myrtle Beach's mild climate. Heat pumps can reduce heating and cooling costs by 30-50% compared to traditional systems, and with South Carolina's electricity rate of 14.1¢ per kWh, most homeowners see meaningful savings on their monthly energy bills within the first few years.
The financial benefits depend on how you acquire your system. Direct purchase may qualify for up to $2,000 in federal tax credits under the Inflation Reduction Act, lowering your upfront cost. Alternatively, Palmetto's Comfort Plan requires $0 upfront and includes all maintenance and repairs, making the investment predictable and hassle-free while you enjoy immediate energy savings.
In Myrtle Beach, licensed HVAC contractors install heat pumps, including companies like Palmetto that specialize in home energy solutions. Professional installation is essential in Climate Zone 9, where systems must handle both 24°F winter lows and 97°F summer highs efficiently.
Palmetto offers two installation options: a Comfort Plan with $0 upfront cost and included maintenance, or direct purchase where you own the equipment and may qualify for up to $2,000 in federal tax credits. Both options include professional installation by certified technicians familiar with Myrtle Beach's coastal climate conditions.
HVAC is an umbrella term that stands for Heating, Ventilation, and Air Conditioning—it describes any system that controls your home's temperature and air quality. A heat pump is actually a specific type of HVAC system that both heats and cools your home by transferring heat rather than generating it, making it more energy-efficient than traditional furnaces and air conditioners.
In Myrtle Beach's Climate Zone 9, where temperatures range from around 24°F in winter to 97°F in summer, a heat pump handles both seasons efficiently with one system. With South Carolina's electricity rate at 14.1¢ per kWh, heat pumps can help reduce energy costs compared to traditional HVAC setups. Palmetto offers flexible options including a Comfort Plan with $0 upfront and included maintenance, or direct purchase with potential federal tax credits up to $2,000.