Heat Pump Cost Calculator, Waterloo Region

1. Your home

Size Built

2. How you heat now

Heating fuel Yearly gas use, m³ (optional)

3. System you're considering

Cold-climate ducted, full replacementHeat pump + new electric air handler with backup heat strips, replacing the furnace and AC. Dual-fuel add-on to existing furnaceCold-climate outdoor unit + indoor coil on the existing gas furnace, with dual-fuel controls. Ductless single-zoneOne outdoor unit, one wall-mounted indoor head. Ductless multi-zoneOne outdoor unit serving 2 to 5 indoor heads.

4. Extras your home may need

Minor duct changes (returns, transitions) Major duct work or new runs Adding ductwork to a home without ducts Electrical panel / 100 A to 200 A service upgrade New 240 V circuit only Long line set / wall bracket / difficult placement

Your estimate

Installed cost, before rebates

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Possible rebate

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After rebate

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Yearly heating cost (energy only)

What you have now

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With the heat pump

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Ballpark only: typical Waterloo Region market prices (not a Falconridge quote), before HST. Energy prices and rebate rules as of October 2026; electricity estimated at about 14¢/kWh all-in. Rebates need pre-approval, eligible equipment and a participating contractor.

Get an exact quote

How this calculator works

We estimate your heating load from your home's size and age, pick a typical cold-climate heat pump size, and price it against current market ranges for Waterloo Region. Rebates follow the Home Renovation Savings Program rules: on Enbridge gas a cold-climate heat pump earns up to $2,000, and homes heated by electricity, oil or propane can get up to $7,500.

Running costs compare the energy your home uses for heat today against a heat pump with a seasonal efficiency of about 2.7 (it delivers 2.7 units of heat for every unit of electricity). On natural gas, the honest answer is that a heat pump usually doesn't save money on heating at today's prices, which is why dual fuel is popular here. From oil, propane or electric baseboard, the savings are real.

Not in the numbers: closed federal programs (the Canada Greener Homes Loan and the Oil to Heat Pump Affordability program) and the federal rebate announced in October 2026, which has no published rules yet.

Frequently asked questions

How much does a heat pump cost in Waterloo Region?

Typical installed prices run from about $4,000 to $7,500 for a single-zone ductless unit, $9,000 to $16,000 to add a cold-climate heat pump to an existing gas furnace (dual fuel), and $14,000 to $24,000 for a full ducted system that replaces the furnace. Ductwork and electrical upgrades add to that. Our heat pump cost guide breaks it down.

Will a heat pump lower my heating bill?

It depends on what you heat with now. Homes on electric baseboard, oil or propane usually save a lot. On natural gas at current Ontario prices, a heat pump typically costs about the same or more to run for heating, though you also get efficient air conditioning. Dual fuel lets the furnace take over when gas is cheaper.

How accurate is this calculator?

It gives a ballpark based on typical regional prices and average homes. Your real cost depends on your home's actual heating needs, your ductwork, your electrical panel and the equipment you choose. Request a quote for an exact number.

Can Kitchener Utilities customers get the heat pump rebate?

As of October 2026, the Home Renovation Savings Program only includes gas-heated homes served by Enbridge Gas, so homes heated by Kitchener Utilities gas aren't eligible for its heat pump rebate. Check the rebate guide for updates.

Get an exact heat pump quote

We'll look at your home and give you real numbers.

Heat pump cost calculator