Perhaps you know already, but a lot of the price is often the installation labor, not the device itself.

Just as a data point, $20K is right in the ballpark for estimates you'll get for professional installation of a modern ≈3-ton forced-air 17SEER heatpump + air handler in the Seattle area.

Even in the expensive Bay Area, I got a quote of only $10k to install a heat pump. It was basically the same price to install a new gas furnace + AC for summer.

But what kind? For instance, a mini-split in an apartment is quite different from the 3-ton forced-air system I described.

People use the term "heat pump" to sometimes describe quite different things, so it's hard to know what's apples-to-apples.

It's a forced-air system sized for a moderately insulated 1300 sqft home. Don't know how many tons or the SEER rating.

You hit the nail on the head, but mine is a 5 channel Daikin heat pump. I got a bit of a deal because I paid in cash.

It was a 5 channel heat pump with a single condenser. As the other commenter wrote it was mostly wrapped up in labor. For what it's worth, they're 24 SEER Daikin units. It's priced at replacing the AC and heat for an entire house, so compare it to a large AC installation.

That feels like a lot of electricity usage for such high seer, in Oregon. Are you positive that electric backup wasn't being triggered for some reason?

You mean the heat strip? It likely was turning on, but I have no way to know.