💰 Heat pump vs gas furnace cost: how much would I save?

Conventional wisdom says natural gas is always cheaper for heating. That isn't strictly true anymore depending on where you live and your utility rates.

This calculator compares your current gas furnace costs against a modern variable-speed electric heat pump. You can see exactly how much you might save each winter by making the switch.

Heat pumps are highly efficient because they move heat rather than generate it. They typically produce 2.5 to 3.0 times more heat energy than the electricity they consume.

As Scott Explains notes, he is a huge fan of variable speed because it is much more comfortable. The unit runs longer but at much lower output instead of the system constantly going on and off and blowing hot or cold air at you.

Local utility rates make a massive difference in your out-of-pocket costs. As Scott found, electricity at the standard rate was 11% more expensive than heating with gas.

However, his home solar setup completely flipped the math. Because a lot of his power was coming from solar, he was actually paying 32% less than natural gas. Adjust the solar coverage below if you generate your own power.