Heat Pump Savings Calculator
Estimated annual heating savings from a heat pump versus your current system
Related calculators
All energy- HVAC SEER Savings CalculatorCooling energy and cost saved by upgrading to a higher SEER
- Insulation Savings CalculatorAnnual heating cost saved by upgrading a surface's R-value
- LED Savings CalculatorEnergy, money, and CO2 saved by switching bulbs to LED
- Solar Panel CalculatorSystem size, cost after incentives, savings, and payback from your bill
- Carbon Footprint CalculatorAnnual household CO2 from energy and travel, broken down by source
- EV Savings CalculatorCompare electric vs gas fuel cost per year, per mile, and lifetime
Quick summary
Pick your current heating system, enter what you spend on heating each year, and set the heat pump's seasonal COP and your electricity rate to estimate annual and 10-year savings. Because a heat pump moves heat rather than making it, a COP of 3 delivers three units of heat per unit of electricity — cutting an electric-resistance heating bill by about two-thirds. It usually beats electric, oil, and propane handily, but may not beat cheap, efficient natural gas, which the result will show honestly.
Reviewed by Simple Calculators TeamLast reviewed
How to use this calculator
- Enter the inputs requested by the calculator.
- Choose the units or options that match your situation and review the assumptions.
- Run or update the calculation to see the result.
- Review the result, breakdown, and formulas shown on the page.
- Check the inputs, units, dates, and limitations before saving or sharing the result.
Frequently asked questions
How much can a heat pump save on heating?
Against electric resistance (baseboard or furnace), a heat pump with a seasonal COP of 3 uses about a third of the energy — roughly 65% savings. Against oil and propane it also typically wins. Against cheap natural gas the math is closer and can go either way, depending on local gas and electricity prices.
What is COP and HSPF?
COP (Coefficient of Performance) is heat delivered per unit of electricity — a COP of 3 means 300% efficiency. HSPF is the seasonal rating on US heat pumps; divide HSPF by 3.412 to approximate a seasonal COP. Higher is better; cold-climate models hold higher COPs at low temperatures.
Does a heat pump work in cold climates?
Modern cold-climate heat pumps operate efficiently well below freezing, though their COP falls as it gets colder, so real seasonal savings depend on your climate. In very cold areas, many are paired with a backup heat source for the coldest days. Use a conservative seasonal COP for a realistic estimate.
Is this estimate exact?
No — it uses national-average fuel prices and typical efficiencies to convert your current spend into delivered heat, then prices that heat through the pump. Your local gas, oil, propane, and electricity rates can shift the result, especially in the close gas-vs-heat-pump comparison. Use it to gauge the ballpark, then get local quotes.
Key terms
- COP
- Coefficient of Performance — heat delivered per unit of electricity used.
- HSPF
- Seasonal heating efficiency rating for US heat pumps; ≈ COP × 3.412.
- Electric Resistance
- Baseboard/furnace heat at COP 1.0 — the costliest common electric heat.
- Delivered Heat
- Useful heat your home actually receives, after system losses.
Methodology, sources & limitations
This page shows the formula, assumptions, and limitations used for this estimate. Rates, thresholds, and other time-sensitive inputs can change, so verify them against the relevant official source before relying on a result.
For our review approach and the primary sources we consult, see the methodology and source policy. If you spot an outdated figure or formula, please contact us with a correction.