How much does it cost to heat and cool a 2,000 sq ft home in Alberta?

In Alberta (22.9¢/kWh via ENMAX / EPCOR / ATCO (AUC)), a 2,000 sq ft home averages $1,676/year ($140/month) with a high-efficiency heat pump, $981/year with a natural gas furnace and central AC, and $5,169/year with electric baseboards.

Are heat pumps cheaper to run than gas furnaces in Alberta?

At Alberta's natural gas rate of $1.15/therm, the economic break-even electricity price for a COP 3.1 heat pump is 13.2¢/kWh. Comparing this against Alberta's residential electricity rate of 22.9¢/kWh determines annual operating savings.

Alberta Heating & Cooling Cost Calculator (2026)

2,000 Sq Ft Heat Pump Bill

$140/mo

AB Electricity / Gas Rate

22.9¢ / $1.15

15-Yr Savings vs Baseboard

+$48,795

Alberta Annual Heating & Cooling Bills by Home Size

In Alberta, a 2,000 sq ft home averages $1,676/year ($140/mo) using a cold-climate heat pump ($1,655/yr winter heating + $21/yr summer cooling), compared to $981/year with a natural gas furnace and $5,169/year with electric baseboards.

Home Size	Heat Pump (COP 3.1)	Gas Furnace + AC	Baseboard + Window AC	15-Yr Heat Pump Savings
1,000 Sq Ft	$838/yr ($70/mo)	$491/yr ($41/mo)	$2,584/yr ($215/mo)	+$22,590
1,500 Sq Ft	$1,257/yr ($105/mo)	$736/yr ($61/mo)	$3,876/yr ($323/mo)	+$35,685
2,000 Sq Ft	$1,676/yr ($140/mo)	$981/yr ($82/mo)	$5,169/yr ($431/mo)	+$48,795
2,500 Sq Ft	$2,095/yr ($175/mo)	$1,226/yr ($102/mo)	$6,461/yr ($538/mo)	+$61,890
3,000 Sq Ft	$2,514/yr ($210/mo)	$1,472/yr ($123/mo)	$7,753/yr ($646/mo)	+$74,985
3,500 Sq Ft	$2,933/yr ($244/mo)	$1,717/yr ($143/mo)	$9,045/yr ($754/mo)	+$88,080

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