Heat Pump Savings Calculator (HSPF & COP)
Estimate how much you'll save each year by switching to a heat pump from gas, oil, propane or electric resistance heating — based on the unit's efficiency.
Savings depend on what you replace
A heat pump beats electric, propane and oil heating dramatically; versus cheap gas, the win comes from added cooling.
Your current heating
Savings vs cheap natural gas are smaller and depend on local electric vs gas prices. A heat pump also provides cooling, replacing a separate AC.
How this calculator works
Pick your current fuel
Electric, propane, oil or natural gas.
Enter annual heating cost
Roughly what you spend on heating each year.
Set heat pump efficiency
COP 3.2 is typical; cold-climate units stay above 2 in winter.
See annual savings
We compare your new heating cost to today's.
How much can a heat pump save you?
A heat pump's savings depend almost entirely on what you're replacing. Because it moves heat instead of generating it, a heat pump running at a COP of 3.2 delivers about 3.2 units of heat per unit of electricity — so it crushes electric resistance heating and beats expensive fuels like propane and oil. Against cheap natural gas, the savings are smaller and depend on your local electricity-to-gas price ratio.
| Replacing | Typical heating savings | Notes |
|---|---|---|
| Electric resistance / baseboard | 55–65% | Biggest win — same energy source, 3× more efficient |
| Propane | 45–60% | Propane is costly per BTU |
| Heating oil | 35–50% | Depends on oil vs electric prices |
| Natural gas | 0–20% | Smaller; varies by local rates — but adds free cooling |
How to convert HSPF2 to COP
This calculator asks for COP, but US heat pump labels list HSPF2 (Heating Seasonal Performance Factor), which is measured in BTU of heat per watt-hour of electricity. One watt-hour equals 3.412 BTU, so the conversion is simple: seasonal COP ≈ HSPF2 ÷ 3.412. Find the HSPF2 on your quote or the AHRI certificate, divide, and enter the result in the COP slider above.
| HSPF2 rating | Seasonal COP | Typical unit |
|---|---|---|
| 7.5 | 2.2 | Federal minimum for split systems |
| 8.1 | 2.4 | Mid-range ducted unit |
| 9.0 | 2.6 | High-efficiency unit |
| 10.0 | 2.9 | Top-tier variable-speed or mini-split |
Seasonal COP is an average across a whole heating season, so it runs lower than the COP of 3–4 a heat pump reaches on a mild day. Using the seasonal figure gives you a more conservative savings estimate. If you have an older HSPF (not HSPF2) rating, the same division gives a slightly optimistic COP, because the older test was less strict.
Don't forget the cooling
A heat pump replaces both your furnace and your air conditioner. If your AC is also aging, the savings calculation should credit the avoided cost of a separate AC replacement — that often tips the decision, even against cheap gas. Pair your heat pump with rooftop solar and you can power your heating with your own electricity; see the Solar Payback Calculator. Ready to size and price it? Use the Size and Cost calculators.