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| Square Footage | Furnace BTU |
|---|---|
| 1,000-1,200 sq. ft. Home | 40,000 - 60,000 BTU |
| 1,200-1,500 sq. ft. Home | 60,000 BTU |
| 1,500-1,800 sq. ft. Home | 60,000 - 80,000 BTU |
| 1,800-2,500 sq. ft. Home | 80,000 - 100,000 BTU |
| 2,500-3,500 sq. ft. Home | 100,000 to 120,000 BTU |
Get a quick estimate on how much you could potentially save in heating costs by switching from your current system to an air-source heat pump.
Your actual bills help us provide a more accurate estimate. If not, we can estimate based on similar homes in your region.
Check your utility bills or estimate based on your monthly costs.
AFUE = Annual Fuel Utilization Efficiency. Higher % = more efficient.
Older systems run less efficiently, so your actual savings may be even higher.
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Important: This is a general estimate for informational purposes only. Actual savings vary based on equipment choice, local utility rates, usage patterns, and installation quality. Get quotes from certified contractors for accurate numbers.
Find out exactly how much you could save — get free quotes from certified contractors.
GET FREE QUOTES| Current System | Typical Annual Savings (Ontario) | Typical Annual Savings (BC) | Payback Period |
|---|---|---|---|
| Electric Baseboard | $1,200 – $2,500/yr | $600 – $1,400/yr | 3 – 6 years |
| Oil Furnace | $800 – $1,800/yr | $700 – $1,600/yr | 5 – 9 years |
| Propane Furnace | $600 – $1,400/yr | $500 – $1,200/yr | 6 – 10 years |
| Natural Gas Furnace (Ontario) | $100 – $500/yr | $200 – $600/yr | 12 – 20 years |
Payback period = Net installed cost (after rebates) ÷ Annual energy savings. For example, if a heat pump costs $8,000 installed, you receive $3,000 in rebates (net cost $5,000), and you save $1,000/year in energy, your payback period is 5 years. After that, you're saving money every year.
Yes — as fossil fuel prices tend to rise over time while electricity rates are more stable, and as natural gas carbon pricing increases in Canada (scheduled to rise to $170/tonne by 2030), heat pump savings typically grow over the system's 15–20 year lifespan.
In Ontario, natural gas is currently cheaper per heating unit than electricity in most cases, but rising carbon taxes are rapidly changing this equation. By 2030, the federal carbon price will make natural gas significantly more expensive, improving heat pump savings for all Ontario homeowners.
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