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

In Nova Scotia (19.1¢/kWh via Nova Scotia Power), a 2,000 sq ft home averages $1,145/year ($95/month) with a high-efficiency heat pump, $1,189/year with a natural gas furnace and central AC, and $3,520/year with electric baseboards.

Are heat pumps cheaper to run than gas furnaces in Nova Scotia?

At Nova Scotia's natural gas rate of $1.72/therm, the economic break-even electricity price for a COP 3.1 heat pump is 19.8¢/kWh. Comparing this against Nova Scotia's residential electricity rate of 19.1¢/kWh determines annual operating savings.

Nova Scotia Heating & Cooling Cost Calculator (2026)

2,000 Sq Ft Heat Pump Bill

$95/mo

NS Electricity / Gas Rate

19.1¢ / $1.72

15-Yr Savings vs Baseboard

+$32,025

Nova Scotia Annual Heating & Cooling Bills by Home Size

In Nova Scotia, a 2,000 sq ft home averages $1,145/year ($95/mo) using a cold-climate heat pump ($1,122/yr winter heating + $23/yr summer cooling), compared to $1,189/year with a natural gas furnace and $3,520/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	$573/yr ($48/mo)	$595/yr ($50/mo)	$1,760/yr ($147/mo)	+$14,205
1,500 Sq Ft	$859/yr ($72/mo)	$892/yr ($74/mo)	$2,640/yr ($220/mo)	+$23,115
2,000 Sq Ft	$1,145/yr ($95/mo)	$1,189/yr ($99/mo)	$3,520/yr ($293/mo)	+$32,025
2,500 Sq Ft	$1,431/yr ($119/mo)	$1,487/yr ($124/mo)	$4,400/yr ($367/mo)	+$40,935
3,000 Sq Ft	$1,718/yr ($143/mo)	$1,784/yr ($149/mo)	$5,280/yr ($440/mo)	+$49,830
3,500 Sq Ft	$2,004/yr ($167/mo)	$2,081/yr ($173/mo)	$6,161/yr ($513/mo)	+$58,755