Heat pump New Hampshire

Heat pump vs gas heating cost in New Hampshire

$659 a year more to heat a typical New Hampshire home with a heat pump than with a gas furnace.

A typical home here burns about 621 therms of gas a year for heat, about $1,056 at the national average of $1.70/therm. A heat pump would use about 6,446 kWh instead, $1,715 at 26.60¢/kWh. Electricity would have to fall to 16.4¢/kWh, or gas rise in price, before the heat pump became the cheaper way to heat.

Prices updated October 2026 from EIA, AAA and BLS data.

How New Hampshire compares

Ranked by yearly saving against gas, New Hampshire is 49th of 51. At U.S. average figures a heat pump saves $27 a year. New Hampshire has the 8th most expensive residential electricity of the 50 states and DC at 26.60¢/kWh, 45% above the U.S. average of 18.31¢.

New Hampshire is a cold-climate state, with an estimated 6,900 heating degree days a year, so the calculator uses a lower seasonal COP of 2.4. Cold-climate heat pumps rated for low temperatures can do better.

Against propane the heat pump costs $3 a year more, against heating oil it saves $871 a year, and against electric baseboard heat it saves $2,400 a year.

Heating now	Now, per year	Heat pump	Difference
Natural gas furnace	$1,056	$1,715	−$659
Propane furnace	$1,711	$1,715	−$3
Oil furnace	$2,585	$1,713	$871
Electric baseboard	$4,115	$1,715	$2,400

Two of its three neighbors come closer to breaking even with gas: Massachusetts and Vermont, led by Vermont at $517 a year more than gas.

State	Electricity	Saving vs gas a year
Vermont	23.75¢	−$517
Massachusetts	30.49¢	−$538
New Hampshire	26.60¢	−$659
Maine	32.41¢	−$1,123

More for New Hampshire

EV charging cost in New Hampshire vs gas: an EV saves $800 a year on fuel.
Solar payback in New Hampshire: a typical system pays back in 9.1 years.

What these numbers assume

A heating load estimated from about 6,900 heating degree days a year: 621 therms of gas, 679 gallons of propane, 476 gallons of oil or 15,470 kWh of baseboard heat.
Natural gas at $1.70/therm, the U.S. city average for September 2026. Gas prices vary a lot by state and utility, so enter the price per therm from your bill.
Propane at $2.52 and heating oil at $5.43 a gallon, EIA forecasts for winter 2026–27.
Furnaces 85% efficient (oil 80%), and a heat pump with a seasonal COP of 2.4.
No federal tax credit: Section 25C ended for equipment placed in service after December 31, 2025.

Change any of them in the calculator above to match your own bills. The formulas are on the main heat pump calculator.

Sources

Electricity price: EIA Electric Power Monthly, Table 5.6.A (July 2026 data).
Natural gas: BLS U.S. city average, September 2026.
Propane and heating oil: EIA Short-Term Energy Outlook winter forecast, October 2026.
Heating degree days: MeterMath rounded estimate for the state.
Tax credit status: Public Law 119-21.