Heat pump operating cost calculator
Estimate what a heat pump costs to run for a year in your state, and compare it with what you pay now. Uses your electricity rate and the heat pump's seasonal efficiency.
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| Heat needed per year | |
| Electricity used | |
| Heat pump cost per year | |
| Current fuel cost per year | |
| Difference |
Reading the result
The seasonal coefficient of performance is the number that decides everything, and it is the one most quotes don't state plainly. Ask for the HSPF2 rating; divide by 3.4 for a rough seasonal COP. A unit rated 10 HSPF2 averages about 2.9 units of heat per unit of electricity over a winter in a mid-Atlantic climate; in northern New England it will run lower, and a system that is undersized, badly placed or set to a high backup-heat threshold runs lower still.
The annual heat figure is an estimate from your square footage, your state's climate and your insulation. If you know how much fuel you burn now, convert it instead: gallons of oil × 0.1385 × 0.83 is the delivered million BTU an 83% oil boiler gives you, and that is a far better number than any estimate.
This is fuel cost only. Installed cost, rebates, federal tax credits and the value of the air conditioning you get with it are the rest of the decision.