Heat Pump Cost Calculator
Compare what it costs to heat your home with a heat pump versus a gas furnace, using your own energy prices.
Switching from a gas furnace to a heat pump changes heat from something you burn into something you run on electricity, so the comparison depends on both fuel prices and how efficiently each system delivers heat. Enter your yearly heating gas, prices, and efficiencies to see the annual running-cost difference.
Heat pump running cost
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- Heat delivered per year
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- Electricity used
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- Current gas cost
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- Yearly difference
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How the comparison works
The tool converts your gas therms into the actual heat delivered (adjusted for furnace efficiency), then works out how much electricity a heat pump would need to deliver that same heat at the COP you set, and prices both. The result is a running-cost estimate, not an install-cost analysis — equipment price, ductwork, and any electrical upgrades are separate, and a heat pump’s summer cooling is a bonus this heating comparison leaves out.
Frequently Asked Questions
How much does a heat pump cost to run vs. a gas furnace?
It depends on your electricity rate, gas price, and the heat pump’s seasonal efficiency (COP). Where electricity is moderately priced and gas is expensive, a heat pump often costs less to run; where gas is cheap and power is expensive, gas can still win. This tool compares your own numbers.
What is COP and why does it matter?
COP (coefficient of performance) is how many units of heat the pump delivers per unit of electricity. A seasonal COP of 3 means roughly three units of heat for one of electricity. Cold-climate units hold a COP around 2–3 across a winter, which is what most of the running cost hinges on.
How do I find my yearly heating therms?
Look at winter natural-gas bills, which usually list therms (or CCF, close to therms). Add up the heating-season months, or take your annual total and subtract a typical summer month for water heating and cooking. One therm is about 29.3 kWh of heat energy.
Does this include air conditioning?
No — this is a heating-only comparison. A heat pump also cools in summer, replacing a separate air conditioner, so its full value is usually higher than the heating numbers alone suggest.