Heat Pump vs Gas Furnace Cost Calculator

Whether a heat pump is cheaper to run than a gas furnace is not a general fact. It depends entirely on the local price of gas against the local price of electricity, and on how efficient each system is in your climate.

The comparison below works from heat actually delivered, which is the only fair basis. Enter your utility rates from a recent bill.

The number that decides it

Seasonal COP, not the rating on the box. Cold-climate heat pumps hold efficiency far better than older units, but every heat pump loses capacity as outdoor temperature falls. In a cold region, a realistic seasonal figure is meaningfully below the headline rating.

Before switching

• Check the electrical panel. Adding a heat pump sometimes requires a service upgrade, which is a large line item that never appears in running-cost comparisons.
• Keep or drop the gas account? If a gas water heater or range stays, the fixed monthly charge stays with it and the savings shrink.
• Ask about backup heat. Electric resistance backup running through a cold snap can undo a season's savings in a few weeks.