How much does it cost to heat and cool a 2,000 sq ft home in Prince Edward Island?

In Prince Edward Island (19.7¢/kWh via Maritime Electric (IRAC)), a 2,000 sq ft home averages $1,258/year ($105/month) with a high-efficiency heat pump, $1,310/year with a natural gas furnace and central AC, and $3,870/year with electric baseboards.

Are heat pumps cheaper to run than gas furnaces in Prince Edward Island?

At Prince Edward Island's natural gas rate of $1.78/therm, the economic break-even electricity price for a COP 3.1 heat pump is 20.5¢/kWh. Comparing this against Prince Edward Island's residential electricity rate of 19.7¢/kWh determines annual operating savings.

Prince Edward Island Heating & Cooling Cost Calculator (2026)

2,000 Sq Ft Heat Pump Bill

$105/mo

PE Electricity / Gas Rate

19.7¢ / $1.78

15-Yr Savings vs Baseboard

+$35,580

Prince Edward Island Annual Heating & Cooling Bills by Home Size

In Prince Edward Island, a 2,000 sq ft home averages $1,258/year ($105/mo) using a cold-climate heat pump ($1,236/yr winter heating + $22/yr summer cooling), compared to $1,310/year with a natural gas furnace and $3,870/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	$629/yr ($52/mo)	$655/yr ($55/mo)	$1,935/yr ($161/mo)	+$15,990
1,500 Sq Ft	$943/yr ($79/mo)	$982/yr ($82/mo)	$2,903/yr ($242/mo)	+$25,800
2,000 Sq Ft	$1,258/yr ($105/mo)	$1,310/yr ($109/mo)	$3,870/yr ($323/mo)	+$35,580
2,500 Sq Ft	$1,572/yr ($131/mo)	$1,637/yr ($136/mo)	$4,838/yr ($403/mo)	+$45,390
3,000 Sq Ft	$1,886/yr ($157/mo)	$1,965/yr ($164/mo)	$5,806/yr ($484/mo)	+$55,200
3,500 Sq Ft	$2,201/yr ($183/mo)	$2,292/yr ($191/mo)	$6,773/yr ($564/mo)	+$64,980

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