Heat Pump Savings Calculator
See how much you could save by switching to a heat pump. Compare annual operating costs against your current heating fuel, project 10-year savings, and check HEEHRA/HOMES rebate eligibility for your state.
A note on federal heat pump incentives (mid-2026)
The federal Section 25C heat pump tax credit expired December 31, 2025 and is no longer available. The state-administered HEEHRA/HOMES rebates (up to $8,000 each for qualifying low- and moderate-income households) are the current mechanism — 20 states now have live programs. California's funds are exhausted (waitlist only) and Maine's is limited to manufactured/mobile homes. Rebate eligibility is applied automatically based on your ZIP code below.
Your Home
AMI = Area Median Income for your region. Determines HEEHRA/HOMES eligibility. Drag the slider to update rebates instantly.
Affects heating load: Poor uses ~33% more energy, Good ~33% less.
Higher = more efficient. Modern cold-climate units: 9.0–10.0.
Estimated Annual Savings
Annual Operating Cost Comparison
10-Year Savings
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CO2 Reduction
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lbs / year
Payback Period
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HEEHRA / HOMES Rebate Eligibility
Heating load = Heating Degree Days (base 65°F, NOAA climate normals) × square footage × insulation multiplier (Poor 24, Average 18, Good 12 BTU/sqft/HDD).
Heat pump cost = load ÷ (COP × 3,412) × electricity rate. Seasonal COP is derived from HSPF2 (COP = HSPF2 ÷ 3.412).
Gas furnace: 100,000 BTU/therm at 90% AFUE. Electric resistance: COP = 1.0. Propane: 91,500 BTU/gal at 90% AFUE. Heating oil: 138,500 BTU/gal at 84% AFUE.
CO2: grid factor 0.85 lb/kWh (national average), 11.7 lb/therm gas, 12.7 lb/gal propane, 22.4 lb/gal oil.
Installed cost ≈ $25 × sqft. Rebates are income-tiered: households under 80% AMI qualify for the full HEEHRA ($8,000) or HOMES ($8,000) rebate; those at 80–150% AMI qualify for 50% ($4,000); those above 150% AMI are not eligible for federal rebates. HEEHRA and HOMES are exclusive — only the better option applies. State and utility rebates may stack on top; when multiple utilities serve a state, the largest available utility rebate is used. Federal rebates are applied only for the 20 states with live programs; California is waitlist-only and Maine is limited to manufactured/mobile homes, so $0 is modeled for both.
Rates use EIA April 2026 figures. Estimates are planning-grade approximations for consumer comparison only — cooling, dehumidification, and climate-zone derating are not included. Get a contractor quote for a project-specific number.
Enter your ZIP code, current fuel, and home size — then click "Calculate Savings".
Estimates use EIA 2026 state electricity rates, EIA residential natural gas rates, NOAA heating degree days, and the 20 states with live HEEHRA/HOMES programs (CO, MA, NM, WA plus NY, IL, IN, MI, MD, GA, NC, RI, WI, WY, MN, NH, VT, DE, OR, CT). Rebates are income-tiered (under 80% AMI = full, 80–150% AMI = 50%, above 150% AMI = $0 federal); HEEHRA and HOMES are exclusive and state/utility rebates may stack. California's funds are exhausted (waitlist) and Maine's is limited to manufactured/mobile homes, so neither is counted toward live federal rebates. The federal Section 25C heat pump credit expired Dec 31, 2025 and is not included. Figures are planning-grade consumer estimates, not quotes or regulatory values.
Shopping for equipment? See our Best Ductless Mini-Split Heat Pumps 2026 review for SEER2 ratings, cold-climate picks, and installed cost per zone.