I've talked about ductless heat pumps at some length in other threads
and there's little value in covering this same ground yet again.
However, it's worth mentioning that the manufacture of my unit
(Fujitsu) has replaced this model with one that is twice as energy
efficient in cooling mode (21 SEER versus 10.5) and more than 1.5
times more energy efficient in heating mode (a HSPF rating of 11.0
versus 7.2). Moreover, whereas my heat pump pretty much calls it a
day when outdoor temperatures fall below -8 to -10C, this one
continues to crank out the heat all the way down to -15C (5F). It's
just amazing how much the technology has advanced in the space of one
year.

See:
http://www.fujitsugeneral.com/PDF_06...QSellSheet.pdf

The average new, electrically-heated home here in Nova Scotia consumes
approximately 50 million BTUs/year for space heating purposes (14,654
kWh). Assuming my current heat pump could supply all of this heat
(and it can't because it effectively stops working below -10C), it
would use 6,919 kWh -- a savings of some 7,735 kWh/yr. This
replacement can now do the job using only 4,516 kWh; total savings:
10,138 kWh/yr. At current NSP rates, that's a savings of just over
$1,000.00 a year ($1,171.00 with taxes).

Cheers,
Paul