EnergyCostHub calculator

Heat Pump Cost Calculator

Compare heat pump running costs with your current gas, electric, or boiler heating costs.

Compare heat pump costs

Estimated heat pump running cost

$637.50

The estimated heat pump running cost is $637.50 per year, compared with $16,941.18 for the current heating assumption.

Heat pump running cost
$637.50
Current heating cost
$16,941.18
Annual savings
$16,303.68
Net installation cost
$11,500.00
Payback period
0.7 years
Electricity needed
3,750 kWh

Assumptions

Heat pump COP
3.2
Current efficiency
85%

Assumptions used

Electricity rate
$0.17/kWh
Gas rate
$1.2 per unit
Daily supply charge
$0.45/day
Average monthly usage
850 kWh
Annual sun hours
1450
Source note
Illustrative default; verify your current local tariff.

How this estimate works

The calculator combines your usage assumptions with local default rates. You can replace every default value with a current rate from your provider, installer, or local authority.

What can change the result

Weather, tariff structure, fixed charges, equipment efficiency, household behavior, incentives, and policy updates can materially change the estimate.

Check before you act on an estimate

This heat pump cost calculator is a planning tool for your household. Begin with the default values only to understand the calculation, then replace them with current figures from your utility bill, installer proposal, vehicle information, or official program documentation.

For heat-pump comparisons, estimate annual useful heat demand and use a realistic seasonal efficiency rather than a best-case value. Check the existing system efficiency, local electricity and fuel tariffs, insulation condition, and any required electrical or emitter upgrades. An installer can assess technical suitability; this calculator only compares transparent cost assumptions.

Run a conservative scenario as well as a likely scenario. Rates, weather, household behavior, equipment performance, export terms, and policy eligibility can change over time. A useful estimate makes those assumptions visible instead of presenting one number as a promise.

Before acting on the result, check the billing period, units, fixed charges, and any terms that the calculation cannot confirm. Treat a large difference from a bill, quote, or offer as a reason to review those source documents, not as proof that one source is wrong.

Keep the figures you entered with the result so it can be reproduced later. That record makes it easier to compare a new tariff, equipment proposal, or charging pattern on the same basis, and it helps identify whether a changed result came from a real household change or a different assumption.

FAQ

How accurate are these estimates?

They are educational estimates based on your inputs and default assumptions. Actual bills and savings vary by provider, tariff, season, equipment, and local policy.

Do you store my personal data?

No login is required, and the calculator does not ask for your name, address, utility bill images, or other sensitive household information.

Can I use this for official financial decisions?

No. Use these results as a planning aid only, then verify current rates, incentives, and costs with your utility, installer, or local authority.

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