The savings calculator gives planning scenarios for running costs. It is not an engineering heat-load calculation, an installation quote or a promise of lower bills.
Choose your province and current heating source, then provide the bill information requested. Electricity and available fuel rates come from the site’s rate records. Check the displayed source and effective date: these are benchmarks and may not match your utility, taxes or current tariff.
A total electricity bill includes uses other than heating. Where available, a non-heating month’s bill helps estimate the baseline. Without a baseline, the calculator uses an explicitly assumed heating share rather than treating the entire bill as heating. Fuel quantities may be needed where the system has no applicable fuel rate.
The estimate applies scenario assumptions for seasonal efficiency and the portion of heating covered. Those assumptions are not a measured prediction for your home. Climate, defrost, equipment sizing, thermostat settings, insulation and backup heating affect results.
Actual bills can also reflect fixed charges, taxes, cooling demand, fuel delivery and different backup operation. Installation costs and rebates require separate confirmation. Do not interpret operating savings as a payback calculation.
Compare the scenario with actual bills and an installer assessment. Read the assumptions shown with the result and ask for a heat-load assessment before selecting equipment. Open the calculator.
For a heating-only electricity bill using the same reference electricity rate before and after conversion, let H be annual heating spend, f the fraction assigned to the heat pump, and C the scenario COP. The simplified annual heating cost is H × (1 − f) + H × f ÷ C. Savings are H minus that cost.
With H = $2,400, f = 1 and C = 1.8–2.9, annual heating cost is $828–$1,333 and savings are $1,067–$1,572, rounded to whole dollars. With f = 0.5, cost is $1,614–$1,867 and savings are $533–$786. Both outputs were checked in the calculator on September 19, 2026.
This formula is for heating-only electric resistance costs. It does not validate a whole-house heating share, a fuel-price conversion or an actual equipment rating. Mixed household bills need a non-heating baseline or the stated assumed heating share. Fuel comparisons need the separate fuel and efficiency assumptions displayed by the tool. Retain those assumptions with any estimate you use.
The current electricity record is a Newfoundland Power benchmark, not a Labrador tariff or a Canada-wide average. Source links and effective dates appear with calculated results. Open the calculator and input guide.