Dwellvance
Heat Pump Calculator: Cost & Savings
Use this heat pump calculator to estimate heating costs, heat pump operating costs, installation costs, incentives, annual savings, and simple payback for your home. Compare a heat pump with your current heating system using your home's characteristics and energy costs.
Dwellvance
Heat Pump Cost & Savings Calculator
Step 1
Where is your home?
Your location helps Dwellvance account for regional energy costs and climate conditions when evaluating your heating options.
Enter your 5-digit ZIP code
Select your state
Your results are estimates based on the information and assumptions used by the calculator.
Heat Pump Cost Calculator: Heating Costs, Savings & Payback
This heat pump cost calculator helps you compare your current heating costs with the estimated operating cost of a heat pump. It also estimates installation costs, available incentives, annual savings, and simple payback so you can evaluate the potential economics of a heat pump for your home.
What This Heat Pump Calculator Estimates
Dwellvance uses information about your home, current heating system, energy use, location, and proposed heat pump to estimate the costs and potential savings associated with switching to a heat pump.
Operating costs
Compare estimated annual operating costs for your current heating system and a heat pump.
Installation costs
Include an installation cost estimate or use your own known installation cost.
Incentives
Account for known rebates or eligible incentives when calculating your estimated net installation cost.
Savings and payback
Estimate annual savings and simple payback using the assumptions entered into the calculator.
How the calculator works
The calculator compares your existing heating system with a heat pump using your home characteristics, location, energy prices, estimated heating demand, system efficiency, installation costs, and available incentives. These inputs are used to estimate annual operating costs, potential savings, and simple payback.
Not sure what size heat pump your home may need? Read our heat pump sizing guide →
01
Tell us about your home
Enter your location, home characteristics, current heating system, and energy costs.
02
Compare the options
The calculator estimates heat pump electricity use, operating costs, installation costs, and applicable incentives.
03
Understand the decision
Review estimated savings, net installation cost, simple payback, and longer-term planning estimates.
What affects your result?
Heat pump economics vary from home to home. Your current heating fuel and efficiency, electricity rate, home characteristics, location, heat pump performance, installation cost, and available incentives can all affect the result.
The calculator provides planning estimates rather than a guaranteed quote, engineering design, or final incentive determination. Important assumptions and eligibility details should be verified before making an installation decision.
Related Home Upgrade Tools & Guides
Heat Pump Calculator FAQs
How much does it cost to install a heat pump?
Heat pump installation costs vary by home, system type, equipment size, installation requirements, and location. This calculator uses an estimated installation cost rather than treating the result as a contractor quote.
How much can a heat pump save on heating costs?
Potential savings depend on your existing heating system, energy prices, heating demand, heat pump efficiency, and other home characteristics. The calculator estimates annual operating costs and potential savings using the information you provide.
How long does it take for a heat pump to pay for itself?
Simple payback depends on installation cost, incentives, annual savings, and the cost of your existing heating system. The calculator estimates simple payback from these inputs.
Every number should have a reason.
Dwellvance is designed to make home-upgrade decisions more transparent. Our methodology documents the assumptions, data sources, and limitations behind the calculator.
For general information about heat pump systems, see the U.S. Department of Energy's heat pump guidance.