Heat Pump Cost Canada 2026 Installation, Running & Savings
An air source heat pump in Canada costs C$8,000-15,000 installed, reduced to C$4,000-10,000 after the Greener Homes Grant. Saves 40-60% on heating vs electric baseboard.
Heat Pump Cost with Greener Homes Grant
The Canada Greener Homes Grant provides up to C,000 for air source heat pumps. Typical costs: ASHP ducted C0,000-15,000, ductless mini-split C,500-6,000. After grant: C,000-10,000. Oil-to-heat-pump conversions qualify for additional C,000 in Atlantic provinces.
Running Cost: Heat Pump vs Baseboard vs Gas
For a 2,000 sq ft home: Electric baseboard C,600/yr. Heat pump (COP 2.5) C,040/yr. Savings: C,560/yr (60%). In Quebec (7.4¢): baseboard C,480, heat pump C92. Gas furnace: C,200-1,800/yr depending on province.
Cold Climate Performance
Modern cold-climate heat pumps (Mitsubishi Hyper-Heat, Fujitsu XLTH, Daikin Aurora) maintain heating to -25°C to -30°C. COP at -15°C: 1.5-2.0 — still more efficient than baseboard. ENERGY STAR Cold Climate designation ensures Canadian winter performance.
Provincial Incentives
BC CleanBC: up to C,000 for ASHP. Nova Scotia Efficiency NS: C,500-3,000. Quebec Chauffez vert: up to C,500. Ontario Enbridge: C,500-5,000 for gas-to-heat-pump. Stack federal + provincial for maximum savings.
Disclaimer: For educational reference only. Consult a licensed HVAC professional.