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Heat pump vs gas furnace operating cost calculator

Enter how much heat your home needs in a year and what you pay for electricity and gas. The calculator estimates the energy cost of meeting that need with a heat pump and with a gas furnace. Every result is an estimate based on your inputs.

By The HVAC Standard Editorial Team · Updated October 4, 2026

Your market

Sets the default electricity price and, where we have published one, the default gas price. You can change both.

Annual heating need (million Btu per year)

Your input. This is the heat your home needs over a winter, not the fuel you buy. A contractor's Manual J load calculation can give it, or your past heating bills can, once the fuel you bought is converted to heat delivered.

Electricity price (¢ per kWh)

Default: U.S. average residential price, July 2026, 18.31¢ (EIA). Your utility's winter rate may differ.

Natural gas price ($ per thousand cubic feet (Mcf))

Default: EIA 2025 annual average, U.S. residential price, $15.34. Use your own bill's price if you have it.

Furnace efficiency (AFUE) (%)

Default: 80%, the federal minimum for non-weatherized gas furnaces made from November 19, 2015, until December 18, 2028, when the minimum rises to 95% (10 CFR 430.32). Enter your furnace's rating.

Heat pump HSPF2

Default: 7.5, the federal minimum for split heat pumps (10 CFR 430.32). Enter the model's rating. An HSPF2 of 7.5 works out to a seasonal COP of about 2.20 (HSPF2 ÷ 3.412).

ESTIMATE BASED ON YOUR INPUTS

Enter your annual heating need, and check the other inputs, to see an estimate.

Gas heat content used: 1,037 Btu per cubic foot, EIA's 2025 U.S. average. EIA's units page lists a sample factor of 1,036 Btu per cubic foot and says it recalculates these factors over time; we use the 2025 average of 1,037 from EIA's FAQ. Looking for rebates? Try the rebate finder.

How this works

Heat pump. HSPF2 is the total space heating required over a heating season in the rating's reference climate (Region IV), in Btu, divided by the electricity the heat pump system uses in that season, in watt-hours. Applied to your home, the watt-hours needed are your heating need in Btu divided by the HSPF2, and the kilowatt-hours are that number divided by 1,000. The cost is kilowatt-hours times your electricity price.

Gas furnace. AFUE is the share of the fuel's heat that becomes space heat. So the gas burned, in Btu, is your heating need divided by the AFUE. To turn Btu into thousand cubic feet (Mcf) of gas, we divide by 1,037 Btu per cubic foot times 1,000 cubic feet. That is EIA's 2025 U.S. average heat content for natural gas delivered to end users. The cost is Mcf times your gas price.

Seasonal COP. ENERGY STAR defines a heat pump's coefficient of performance (COP) as the ratio of space heating delivered to electrical energy consumed, a dimensionless quantity. EIA lists one kilowatt-hour as 3,412 Btu, so HSPF2 divided by 3.412 puts the seasonal rating in the same terms. Treat it as a rough seasonal equivalent: a tested COP is measured at a single set of conditions, such as 5°F.

What the estimate leaves out

HSPF2 is a seasonal rating for a reference climate: the FTC's labeling rule says it is calculated for heating Region IV. Real cold-weather performance varies.
The result excludes maintenance, standby losses and fixed monthly utility charges, and does not add backup heat for your climate.
The default electricity price is a statewide average for July 2026, and the default gas prices are 2025 statewide averages. Your utility's rate, and its winter rate, may differ. EIA says the heat content of natural gas may vary by location and over time.

Sources

U.S. Energy Information Administration. Electric Power Monthly, Table 5.6.A: Average Price of Electricity to Ultimate Customers by End-Use Sector, by State (July 2026) (opens in a new tab).
U.S. Energy Information Administration. Washington Natural Gas Prices, annual (residential price, 2025) (opens in a new tab).
U.S. Energy Information Administration. Texas Natural Gas Prices, annual (residential price, 2025) (opens in a new tab).
U.S. Energy Information Administration. Ohio Natural Gas Prices, annual (residential price, 2025) (opens in a new tab).
U.S. Energy Information Administration. How do I convert natural gas prices in dollars per cubic feet to dollars per British thermal unit or therm? (FAQ) (opens in a new tab).
U.S. Energy Information Administration. Units and calculators explained (opens in a new tab).
U.S. Environmental Protection Agency, ENERGY STAR. ENERGY STAR Program Requirements, Central Air Conditioner and Heat Pump Equipment, Version 6.2 (Rev. March 2025) (opens in a new tab).
eCFR / Federal Trade Commission. 16 CFR 305.20, Labeling and marking requirements for central air conditioners, heat pumps, and furnaces (opens in a new tab).
eCFR / U.S. Department of Energy. 10 CFR 430.32, Energy and water conservation standards and their compliance dates (opens in a new tab).
U.S. Environmental Protection Agency, ENERGY STAR. Furnaces Key Product Criteria (opens in a new tab).