Heat Pump Savings Calculator
Enter your home square footage and current heating fuel to calculate exact annual dollar savings, COP efficiency gains, and payback period.
Run Heat Pump CalculatorHeat Pump Savings Calculator
✓ Verified for 2026 | Sourced from NEEP ccASHP Guidelines & Official Utility Data
Compare the annual operating cost of a heat pump vs a gas furnace in your specific climate. Enter your current gas and electricity rates to get an accurate estimate.
Annual Savings & Payback Comparison
| Current Heating Fuel | Avg Annual Heating Cost | Cost with Heat Pump | Est. Annual Savings | Avg Payback |
|---|---|---|---|---|
| Heating Oil / Propane | $2,800 - $3,800/yr | $1,400 - $2,100/yr | $1,200 - $1,800/yr (45%) | 2 - 3.5 yrs |
| Standard Gas Furnace | $1,600 - $2,400/yr | $1,200 - $1,700/yr | $400 - $700/yr (25%) | 3.5 - 5 yrs |
| Electric Baseboards | $3,200 - $4,500/yr | $1,200 - $1,800/yr | $1,800 - $2,700/yr (60%) | 1.5 - 2.5 yrs |
How Heat Pump Savings Work
Heat pumps move heat rather than generating it, achieving 200-350% efficiency (COP 2-3.5). Even in cold climates, they extract usable heat from outdoor air down to -13°F. At national average energy prices ($0.138/kWh electricity, $1.10/therm gas), a heat pump typically costs 30-50% less to operate than a gas furnace for the same heating load.