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

In Illinois (16.4¢/kWh via ComEd / Ameren Illinois), a 2,000 sq ft home averages $847/year ($71/month) with a high-efficiency heat pump, $764/year with a natural gas furnace and central AC, and $2,541/year with electric baseboards.

Are heat pumps cheaper to run than gas furnaces in Illinois?

At Illinois's natural gas rate of $1.25/therm, the economic break-even electricity price for a COP 3.1 heat pump is 14.4¢/kWh. Comparing this against Illinois's residential electricity rate of 16.4¢/kWh determines annual operating savings.

Illinois Heating & Cooling Cost Calculator (2026)

2,000 Sq Ft Heat Pump Bill

$71/mo

IL Electricity / Gas Rate

16.4¢ / $1.25

15-Yr Savings vs Baseboard

+$21,810

Illinois Annual Heating & Cooling Bills by Home Size

In Illinois, a 2,000 sq ft home averages $847/year ($71/mo) using a cold-climate heat pump ($781/yr winter heating + $66/yr summer cooling), compared to $764/year with a natural gas furnace and $2,541/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	$424/yr ($35/mo)	$382/yr ($32/mo)	$1,270/yr ($106/mo)	+$9,090
1,500 Sq Ft	$635/yr ($53/mo)	$573/yr ($48/mo)	$1,906/yr ($159/mo)	+$15,465
2,000 Sq Ft	$847/yr ($71/mo)	$764/yr ($64/mo)	$2,541/yr ($212/mo)	+$21,810
2,500 Sq Ft	$1,059/yr ($88/mo)	$955/yr ($80/mo)	$3,176/yr ($265/mo)	+$28,155
3,000 Sq Ft	$1,271/yr ($106/mo)	$1,146/yr ($96/mo)	$3,811/yr ($318/mo)	+$34,500
3,500 Sq Ft	$1,483/yr ($124/mo)	$1,337/yr ($111/mo)	$4,447/yr ($371/mo)	+$40,860

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Verify 2026 Federal 25C Tax Credit & ComEd / Ameren Illinois rebate eligibility and compare turnkey contractor pricing for a 3.0-Ton system (2,000 sq ft).

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