Heat Pump vs Furnace Calculator
Work out what a heat pump would actually cost to run compared with your current heating, using your own bill and local rates.
Converts your bill to delivered heat (BTU) using fuel energy content and system efficiency, then prices the same heat through a heat pump. Excludes cooling savings, which makes this conservative.
How the math works
units burned = annual cost ÷ fuel price delivered heat = units × BTU per unit × efficiency heat pump kWh = delivered heat ÷ (3,412 × COP) heat pump cost = kWh × electricity rate
Frequently asked questions
Will a heat pump be cheaper than my gas furnace?
It depends on the ratio between your electricity rate and gas price. A heat pump at COP 2.8 delivers 2.8 units of heat per unit of electricity, so it usually beats propane, oil and electric resistance comfortably. Against cheap natural gas the result is closer, and in some low-gas-price regions the furnace still wins on running cost.
What is COP and what number should I use?
Coefficient of Performance is heat delivered divided by electricity consumed. Seasonal average for a modern cold-climate heat pump is roughly 2.5 to 3.5 depending on winter temperatures. Use 3.0 for a mild climate, 2.5 for a cold one. It is not the same as the HSPF number on the label.
Does a heat pump still work in freezing weather?
Modern cold-climate models keep working well below 0°F, though efficiency falls as it gets colder — which is exactly why this calculator uses a seasonal average COP rather than a rated peak figure.
Does this include air conditioning savings?
No, and that makes the result conservative. A heat pump replaces your air conditioner too, so if you would otherwise be buying both a furnace and an AC unit, the real install premium is much smaller than the figure people usually quote.
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