Compare & Calculate Your Savings For climates with moderate heating and cooling needs, heat pumps offer an energy-efficient alternative to furnaces and air conditioners. Like your refrigerator, heat pumps use electricity to move heat from a cool space to a warm space, making the cool space cooler and the warm space warmer. During the heating season, heat pumps move heat from the cool outdoors into your warm house and during the cooling season, heat pumps move heat from your cool house into the warm outdoors. Because they move heat rather than generate heat, heat pumps can provide equivalent space conditioning at as little as one quarter of the cost of operating conventional heating or cooling appliances. Compare the Savings Between Your Fuel Source & Heat Pumps Heat Pumps are one of the most cost-effective methods to heat your home. See the chart below for a comparison of how your fuel type compares to Air Source Heat Pumps. Fuel type Price Unit Heat Content Per Unit (BTU) System efficiency Price Per million BTU Fuel Oil (#2) $4.82/gallon 138,500 80% $23.38 Propane $3.79/gallon 91,333 80% $43.04 Kerosene $5.71/gallon 135,000 80% $29.34 Electricity-Resistance Heat $0.2883/kWh 3,412 100% $48.52 Electricity-Air Source Heat Pump $0.29/kWh 3,412 250% $19.41 Wood Pellets (Bulk Delivered ton) $335.34 16,500,000 80% $23.64 Wood Pellets (Bag Ton) $279.00 16,500,000 80% $22.58 Wood (cord) $391.25 20,000,000 50% $33.42 Source: as of August 10, 2022 NH Office of Strategic Initiatives Calculate Your Potential Savings