Heat Pump Savings Calculator

Compares your existing heating system against a heat pump using efficiency and COP — not a one-size-fits-all savings estimate.

This tool provides a planning estimate based on the assumptions shown below the results — it is not a quote, and actual costs and savings will vary by installer, local rates, and your specific home.

Your state

Sets the electricity rate below to your state's average (EIA, April 2026) — edit it if you know your actual rate.

Annual heating load (kWh-equivalent)

Not sure? A typical 2,000 sq ft home in a cold climate needs roughly 10,000–15,000 kWh-equivalent per year.

Your existing heating system

Existing system efficiency (AFUE / rated %)

Existing fuel cost ($ per therm)

Heat pump seasonal average COP

Cold-climate heat pumps typically average 2.5–3.5 seasonal COP; check the model's spec sheet.

Your electricity rate (per kWh)

Enter your heating details to compare annual costs.

How this calculator works

Your existing system's annual cost is derived by dividing your heating load by its efficiency, then converting to fuel units (29.3 kWh/therm for gas or propane, 40.7 kWh/gallon for oil) and pricing at your fuel cost.

Heat pump cost divides the same heating load by its seasonal COP, then prices the resulting electricity use at your rate — this is why COP (not just "efficient") drives the comparison.

Source: DOE Energy Saver, Air-Source Heat Pumps, last updated 2026-06-01.