Heat Pump Cost Calculator
Estimate your heat pump's exact running cost per hour, day, and month. Built for US homeowners.
Calculate Heat Pump Running Cost
Heat Pump vs Gas Furnace — Monthly Cost Comparison
| Scenario | Heat Pump | Gas Furnace |
|---|---|---|
| Small home (40,000 BTU, 8 hrs) | ~$58/mo | ~$96/mo |
| Medium home (60,000 BTU, 10 hrs) | ~$87/mo | ~$144/mo |
| Large home (80,000 BTU, 12 hrs) | ~$138/mo | ~$192/mo |
Heat pump assumes COP 3.0, $0.13/kWh. Gas furnace assumes 80% efficiency, $1.20/therm.
What Affects Heat Pump Running Costs?
COP Explained
Higher COP means lower operating cost. A COP of 3.0 means for every $1 of electricity consumed, you receive $3 worth of heat output. New cold-climate heat pumps now regularly reach COP 4.0 or higher, making them extremely cost-effective in moderate climates.
Climate Impact on Efficiency
Heat pumps lose efficiency as outdoor temperatures fall below 35°F. In colder US states like Minnesota and Wisconsin, expect COP closer to 2.0 during peak winter. Factor your local climate into cost estimates — your summer and fall costs will be significantly lower than mid-January.
Size Matters
An oversized heat pump short-cycles — it turns on and off too frequently — wasting energy and increasing wear. An undersized unit runs constantly and still can't maintain temperature. Use a Manual J load calculation or consult a licensed HVAC contractor to confirm correct sizing before purchasing.
Electricity rates vary widely by region. Use our state-level heating cost data to apply your local rate to these estimates. If you also have gas service, our gas vs electric heating cost guide shows how a heat pump stacks up against a gas furnace at today's prices.