Home energy · heating costs
Heat pump savings, with your prices.
Compare annual heating cost for your current system and a heat pump, then see payback after your own rebate. Nothing leaves your browser.
Inputs
Annual cost and payback
How it works
Old-system cost = heat needed ÷ efficiency × fuel cost per kWh. Heat pump cost = heat needed ÷ COP × electricity price. Annual savings is the difference. Payback = (installed cost − rebate) ÷ annual savings. If you enter HSPF or HSPF2, COP is estimated as rating × 1,000 ÷ 3,412, because 1 kWh = 3,412 Btu.
Worked example
Illustrative figures only, not market data: 20,000 kWh of heat, an 85%-efficient oil furnace at $0.11 per kWh of fuel, electricity at $0.13, HSPF2 9 (COP about 2.64), $14,000 installed less a $3,000 rebate. Old cost = 20,000 ÷ 0.85 × 0.11 = $2,588. Heat pump = 20,000 ÷ 2.64 × 0.13 = $986. Savings about $1,602 a year; payback = $11,000 ÷ $1,602 = about 6.9 years.
Definitions and sources
ENERGY STAR defines HSPF2 as the total space heating required in region IV during the heating season, in Btu, divided by the total electrical energy consumed by the heat pump system, in watt-hours, and COP as the ratio of average heat delivered to average electrical power consumed. Both are laboratory seasonal ratings, so a cold winter, poor installation or ductwork will give a lower real-world figure. Defrost cycles and backup resistance heat are not modeled separately.
Source: ENERGY STAR air-source heat pump key product criteria (HSPF2 and COP definitions; opened 2026-09-30) · U.S. EIA Btu conversions (1 kWh = 3,412 Btu; opened 2026-09-30)
Rebates and incentives change often and are not included. Look up your current program and type the confirmed amount into the rebate field. For Canadian households, check the Natural Resources Canada and provincial program pages for the current amount. This is a planning estimate, not a quote or engineering advice.
FAQ
What is the difference between HSPF2 and COP?
Both measure heat delivered per unit of electricity. HSPF2 is in Btu per watt-hour; COP is unitless. HSPF2 ÷ 3.412 is roughly the seasonal COP.
Does this include rebates?
Only the amount you enter. The tool ships with no incentive amounts.
Why can savings be negative?
When your current fuel is cheap per unit of heat, such as natural gas in some regions, the heat pump can cost more to run. The result shows that honestly.