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      3.5-ton central heat pump · CU Series

      Panasonic CU-M48BAHU

      Average cooling and heating efficiency for a 3.5-ton central heat pump, and certified for cold climates.

      Ranks #48 of 138 3.5 ton central heat pumps for cooling efficiency, and costs about $1,338 a year to run in a mixed climate like Atlanta.

      SEER2
      16.7 Cooling efficiency over a season
      Average · beats 43%
      HSPF2
      9.0 Heating efficiency over a season
      Average · beats 54%
      EER2
      10.3 Cooling efficiency on a 95°F day
      Below average · beats 16%
      Heat at 5°F
      40,000 BTU/h89% of its 47°F output
      Below average · beats 12%

      A good fit if…

      • Your winters get properly cold - it is ENERGY STAR cold-climate certified, with 40,000 BTU/h at 5°F.
      • You want steady temperatures and quiet running - the compressor varies its speed.

      Think twice if…

      • Nothing stands out - its ratings have no weak spot for its class.

      Calculate my running cost

      Details

      Specifications3.5 ton, R-454B
      General
      BrandPanasonic
      Outdoor unit modelCU-M48BAHU
      SeriesCU Series
      TypeCentral heat pump
      Nominal size3.5 ton
      CompressorVariable-speed units run longer at low powerContinuously variable
      RefrigerantR-454B
      Connected (smart) capableNo
      On the market sinceNovember 30, 2024
      Last certifiedMay 1, 2026
      Cooling
      SEER2Seasonal efficiency, higher is better16.7 (range 15.2-16.7)
      EER2Efficiency at 95°F outdoors10.0-10.3
      Cooling capacity44,000-48,000 BTU/h
      Heating
      HSPF2Seasonal efficiency, higher is better8.5-9.0
      Capacity at 47°F44,000-48,000 BTU/h
      Capacity at 17°F31,000-34,800 BTU/h
      Capacity at 5°F38,000-40,000 BTU/h
      COP at 5°F2.0 = twice as efficient as a space heater1.80-1.85
      ENERGY STAR cold climateYes
      Heating output as it gets colder89% kept at 5°F

      Every heat pump delivers less heat as the outdoor temperature drops. Certified output of its matchup with CS-HM60BAMU3 at the standard test temperatures, in BTU/h:

      Certified matchups9 indoor units

      The same outdoor unit scores differently with each indoor unit and furnace. Ask your installer for the AHRI reference number of the exact system you are quoted.

      Indoor unitFurnaceSEER2EER2HSPF2Heat @5°FAHRI ref.
      CS-HM60BAMU3 · cold climateS9V2C100D5VS***16.710.38.939,000217900487
      CS-HM60BAMU3 · cold climateS9V2C100U5VS***16.710.38.939,000217900488
      CS-HM60BAMU3 · cold climateS9V2C080U5VS***16.410.29.040,000217900486
      CS-HM60BAMU3 · cold climateS9X2C080U5PSB**16.310.18.639,000217900572
      CS-HM60BAMU3 · cold climateS9X1C080U5PSB**16.310.18.639,000217900492
      CS-HM48BAHU · cold climate-16.010.08.538,000216505877
      CS-HM60BAMU3 · cold climateS9X2C100U5PSB**15.710.28.639,000217900574
      CS-HM60BAMU3 · cold climateS9X1C100U5PSB**15.710.28.639,000217900494
      CS-HM60BAMU3 · cold climate-15.210.09.040,000217284727
      Yearly running cost in 10 large cities$1,263-$3,145

      At each state's average electricity price and the city's typical heating and cooling hours.

      Questions5
      What is the SEER2 rating of the Panasonic CU-M48BAHU?
      The Panasonic CU-M48BAHU is rated at up to 16.7 SEER2 and 10.3 EER2 for cooling and up to 9.0 HSPF2 for heating. The exact figure depends on the indoor unit it is paired with; across its 9 certified matchups SEER2 ranges from 15.2-16.7.
      Is the Panasonic CU-M48BAHU good for cold climates?
      Yes. At least one certified matchup meets the ENERGY STAR cold-climate criteria, delivering up to 40,000 BTU/h at 5°F with a COP of 1.85, so it is still 1.9 times as efficient as electric resistance heat at that temperature.
      How much does the Panasonic CU-M48BAHU cost to run per year?
      At its rated efficiency it costs about $1,263-$3,145 a year in electricity in large U.S. cities, depending on climate and local rates - for example $1,525 in Phoenix and $2,603 in Minneapolis. The calculator on this page works it out for your city and compares it with your current system.
      Which indoor units work with the Panasonic CU-M48BAHU?
      ENERGY STAR lists 9 certified combinations for this outdoor unit. The highest-rated ones use CS-HM60BAMU3, CS-HM48BAHU.
      What refrigerant does the Panasonic CU-M48BAHU use?
      It uses R-454B.

      Running cost and savings

      Pre-filled with this model. Pick your city and what you heat with today; everything else is optional.

      Heat pump $1,496/yrYou save $808/yrSee details ↓
      1. Where you live
      Adjust heating and cooling hours

      Filled in from your city's climate. Change them if you run the system much more or less than usual.

      2. The heat pump Panasonic CU-M48BAHU
      3. What it replaces
      4. Price replace the example with your quote
      Heat pump, per year
      $1,496
      Current system, per year
      $2,304
      You save per year
      $808
      Payback
      21.0 years
      Net after 10 years
      -$8,921

      Cooling $949Heating $548Electricity used: 9,350 kWhSaved vs. a minimum-efficiency heat pump: $269

      Estimates use the unit's rated SEER2 and HSPF2, full-load hours derived from NOAA 1991-2020 degree days, average residential electricity prices from the U.S. EIA (12 months to July 2026) and fuel prices from EIA (2025 for natural gas, week of 2026-10-05 for propane and heating oil). Very cold days that need backup heat are not modelled. Federal minimum for comparison: 14.3 SEER2 / 7.5 HSPF2.

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      Source: ENERGY STAR Certified Heat Pumps (U.S. EPA), certification of May 1, 2026. How we use the data.