Heat pumps have become a popular choice for efficient home heating and cooling across the US, but many homeowners ask: How much does it actually cost to run a heat pump per month? This guide explores monthly expenses, including electricity use, climate factors, pump types, and tips for keeping costs low.
| Factor | Impact On Monthly Cost |
|---|---|
| Electricity Rate | Major—higher rates increase cost |
| Home Size & Insulation | Larger, less insulated homes need more energy |
| Heat Pump Efficiency (HSPF/SEER) | Efficient units lower monthly bills |
| Climate Zone | Colder/hotter climates use more energy |
| Usage Pattern | Higher demands for continuous heating/cooling |
Types Of Heat Pumps And Their Monthly Operating Costs
Air-Source Heat Pumps
Air-source heat pumps are the most common and typically the most affordable to install. Their operating costs depend on the local electric rate and the climate, but in most US regions, they are effective for both heating and cooling. On average, an air-source heat pump costs $50–$150 per month to operate in a standard 2,000-square-foot American home, varying by season and temperature settings.
Ground-Source (Geothermal) Heat Pumps
Ground-source heat pumps (GSHPs) are highly efficient but have higher upfront installation costs. Because they draw heat from stable underground temperatures, their monthly operating costs are generally lower. Typical monthly costs range from $30–$70 for similarly sized homes, depending on the region and system efficiency.
Mini-Split (Ductless) Heat Pumps
Mini-split systems are ideal for smaller homes or supplemental heating and cooling. Their monthly costs are proportional to area served, averaging $20–$60 per zone per month, based on usage intensity and outdoor temperatures. Well-insulated spaces and strategic use keep these costs in check.
Key Factors Affecting Heat Pump Monthly Costs
Electricity Rate Per Kilowatt-Hour (kWh)
The cost to run a heat pump per month greatly depends on local electricity prices. Residential electricity rates in the US average about 16¢ per kWh as of early 2025, with higher costs in New England and California (20–30¢/kWh) and lower rates in the Midwest (9–13¢/kWh).
Climate And Geographic Location
The more extreme the outdoor temperatures, the harder a heat pump works. In southern states, mild winters mean lower heating costs, while in northern states, longer and harsher winters increase usage and expenses, especially if a supplemental heat source is required.
Home Size, Insulation, And Layout
Larger and less insulated homes require more energy to maintain comfortable temperatures. Well-sealed windows, upgraded insulation, and proper home sealing drastically cut energy use and, thus, monthly expenses.
Heat Pump System Efficiency (SEER & HSPF Ratings)
System efficiency is measured by SEER (Seasonal Energy Efficiency Ratio) for cooling and HSPF (Heating Seasonal Performance Factor) for heating. Higher ratings mean lower energy use. For example, each increase in HSPF can cut annual operating costs by 8–10%.
Thermostat Settings And Usage Patterns
Lowering the thermostat in winter or raising it in summer reduces costs. Consistently set-back programmable thermostats yield up to 10% savings on energy costs, while running the system only when needed also keeps monthly expenses down.
Estimating Your Monthly Heat Pump Electric Bill
Step-By-Step Heat Pump Cost Calculation Formula
- Find your heat pump’s average hourly electricity use in kilowatts (kW).
- Multiply by the average number of usage hours per month.
- Multiply by your local electricity rate in dollars per kWh.
- Result: average monthly operating cost.
Example: If a heat pump draws 2kW, used 8 hours per day:
2 kW × 8 hours × 30 days = 480 kWh/month
At 16¢/kWh: 480 kWh × $0.16 = $76.80/month
Heat Pump Cost Calculation Table
| Factor | Example Value | Result |
|---|---|---|
| System Power Usage | 2.0 kW | $76.80 per month |
| Scaling Time/Day | 8 hours | |
| Number Of Days | 30 | |
| Electricity Rate | $0.16/kWh |
How Do Regional Climate Zones Affect Heat Pump Monthly Costs?
Regional weather can cause big swings in monthly operating costs. In Florida or Texas, moderate winters keep heating costs low—sometimes under $50/month. In the Midwest and Northeast, cold snaps mean higher use and bills approaching $150–$200/month for larger homes during peak demand months.
Monthly Cost Range By US Region
| US Region | Estimated Winter Monthly Cost (2,000 sq. ft.) |
|---|---|
| Southeast | $40–$90 |
| Midwest | $80–$160 |
| Northeast | $100–$200 |
| Southwest | $50–$110 |
| Northwest | $70–$150 |
Comparing Heat Pump Costs To Other Home Heating Systems
Heat pumps are more efficient than electric resistance heating, propane, or oil furnaces, resulting in lower monthly bills. Gas furnaces may beat heat pumps in some scenarios depending on current gas prices, but for eco-friendly users seeking long-term savings, heat pumps generally win out.
Average Monthly Heating Costs By System Type (National Estimate)
| System Type | Monthly Cost | Notes |
|---|---|---|
| Heat Pump (Air-Source) | $50–$150 | Varies by region, efficiency |
| Heat Pump (Geothermal) | $30–$70 | Highest efficiency |
| Electric Resistance Heater | $100–$400 | Least efficient |
| Natural Gas Furnace | $70–$180 | Dependent on gas prices |
| Propane Furnace | $150–$400 | High fuel costs |
| Oil Furnace | $180–$350 | Common in Northeast |
Practical Ways To Lower Monthly Heat Pump Costs
- Upgrade insulation and weatherproofing. This reduces the amount of energy needed to maintain temperature.
- Set your thermostat wisely. Lower winter setpoints (68°F) and higher summer setpoints (78°F) save money.
- Use programmable or smart thermostats. Automated temperature setbacks reduce unnecessary runtime.
- Service your system annually. Clean filters, check refrigerant, and keep outdoor units clear of debris to ensure peak efficiency.
- Consider zone heating/cooling. Only heating or cooling occupied areas slashes unnecessary energy consumption.
- Invest in higher-efficiency heat pumps for maximum savings. Look for ENERGY STAR® models with high SEER and HSPF ratings.
Additional Costs To Consider Beyond Electricity
Maintenance and repair can add to heat pump ownership costs. Expect $150–$350 per year for professional preventive maintenance. Occasional repairs, especially for older systems, may lead to one-time costs of $200–$1,000, depending on components needing replacement.
If a home requires an auxiliary or backup heating system (such as electric resistance strips in especially cold climates), the extra energy usage will push up winter month costs. For many modern systems, careful sizing and installation keep this to a minimum.
Calculating Cost Savings: Heat Pump Vs. Furnace
An average US homeowner switching from an old electric furnace to a heat pump can save $500–$1,000 per year in many regions, cutting heating costs by 40–60%. Savings versus oil or propane heat can be even greater, though upfront costs may be higher depending on the pump type and installation complexity.
Rebates, tax credits, and utility incentives are widely available for high-efficiency heat pumps. These can offset installation costs, leading to better monthly affordability in the long run.
Heat Pumps For Cooling: Summer Monthly Expenses
Heat pumps provide both heating and cooling. During hot US summers, running a heat pump for cooling uses a similar amount of energy as an efficient central AC or slightly more if humidity control is needed. The monthly cooling cost typically falls in the $40–$120 range for a 2,000-square-foot home, depending on climate and usage habits.
Estimating Your Personal Heat Pump Cost: What Homeowners Should Know
To determine your unique monthly cost to run a heat pump:
- Check your heat pump’s nameplate for power usage (kW) or consult your installer.
- Find out your average heating and cooling hours per month based on climate and personal comfort preferences.
- Review your electricity bill for the current rate per kWh.
- Plug these numbers into the earlier formula to estimate your cost.
- Repeat for both heating and cooling seasons, adjusting daily/hourly use estimates for weather conditions.
Monitor monthly electric bills to spot changes in usage and optimize efficiency through smart home upgrades.
FAQs: Heat Pump Monthly Cost Questions
Is A Heat Pump Cheaper Than Gas Heat Per Month?
In many parts of the US, especially where electricity prices are moderate and winters are not severe, heat pumps are cheaper to run per month than gas furnaces. In areas with very high electricity rates or extremely cold winters, gas can become competitive or less expensive for peak heating, though heat pumps still excel in shoulder seasons and summer cooling.
Do Old Heat Pumps Cost More To Run Each Month?
Yes. Inefficient or aging heat pumps can raise your monthly electric bill as worn components lower SEER/HSPF performance. Most modern systems are 20–30% more efficient, translating directly into monthly savings. If your system is over 10–15 years old, consider the lifetime savings of an upgrade.
Can Smart Thermostats Lower My Monthly Heat Pump Costs?
Smart thermostats can optimize heating and cooling schedules for energy efficiency, often saving 8–15% on annual costs. Geofencing, learning, and remote adjustments maximize savings for both routine and unexpected schedule changes.
Maximizing Comfort And Savings: Heat Pump Ownership Tips
- Schedule regular annual maintenance by a certified technician.
- Replace air filters every 1–3 months for optimal airflow.
- Clear obstructions around the outdoor condenser unit for better efficiency.
- Seal air leaks and insulate attic, walls, and floors.
- Upgrade to high-performance windows or weather stripping.
By following these strategies, homeowners can keep monthly heat pump costs predictable and affordable while enjoying year-round indoor comfort.