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

In Virginia (16¢/kWh via Dominion Energy Virginia), a 2,000 sq ft home averages $610/year ($51/month) with a high-efficiency heat pump, $676/year with a natural gas furnace and central AC, and $1,776/year with electric baseboards.

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

At Virginia's natural gas rate of $1.52/therm, the economic break-even electricity price for a COP 3.1 heat pump is 17.5¢/kWh. Comparing this against Virginia's residential electricity rate of 16¢/kWh determines annual operating savings.

Virginia Heating & Cooling Cost Calculator (2026)

2,000 Sq Ft Heat Pump Bill

$51/mo

VA Electricity / Gas Rate

16¢ / $1.52

15-Yr Savings vs Baseboard

+$13,890

Virginia Annual Heating & Cooling Bills by Home Size

In Virginia, a 2,000 sq ft home averages $610/year ($51/mo) using a cold-climate heat pump ($521/yr winter heating + $89/yr summer cooling), compared to $676/year with a natural gas furnace and $1,776/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	$305/yr ($25/mo)	$338/yr ($28/mo)	$888/yr ($74/mo)	+$5,145
1,500 Sq Ft	$458/yr ($38/mo)	$507/yr ($42/mo)	$1,332/yr ($111/mo)	+$9,510
2,000 Sq Ft	$610/yr ($51/mo)	$676/yr ($56/mo)	$1,776/yr ($148/mo)	+$13,890
2,500 Sq Ft	$763/yr ($64/mo)	$845/yr ($70/mo)	$2,219/yr ($185/mo)	+$18,240
3,000 Sq Ft	$915/yr ($76/mo)	$1,014/yr ($85/mo)	$2,663/yr ($222/mo)	+$22,620
3,500 Sq Ft	$1,068/yr ($89/mo)	$1,183/yr ($99/mo)	$3,107/yr ($259/mo)	+$26,985

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

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