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Real monthly costs at current Eversource and National Grid rates. No federal tax credit assumptions. Just the numbers you need to budget.
Quick Answer
$80-$150
per month heating
Nov through Apr
$40-$70
per month cooling
Jun through Sep
Based on 2,000 sqft home, cold-climate heat pump, Eversource territory
These numbers reflect a typical 2,000 sqft Massachusetts home with a cold-climate heat pump (HSPF2 ~10, SEER2 ~20). Costs include both heating and cooling electricity. The heat pump electric rate (available Nov-Apr) significantly reduces winter bills.
| Month | Heating kWh | Cooling kWh | Total kWh | Eversource$0.28/kWh | Eversource HP$0.18/kWh | NGrid$0.32/kWh |
|---|---|---|---|---|---|---|
January | 1,350 | -- | 1,350 | $383 | $243 | $432 |
February | 1,200 | -- | 1,200 | $340 | $216 | $384 |
March | 900 | -- | 900 | $255 | $162 | $288 |
April | 450 | -- | 450 | $128 | $81 | $144 |
May | 80 | 60 | 140 | $40 | N/A | $45 |
June | -- | 200 | 200 | $57 | N/A | $64 |
July | -- | 350 | 350 | $99 | N/A | $112 |
August | -- | 320 | 320 | $91 | N/A | $102 |
September | -- | 120 | 120 | $34 | N/A | $38 |
October | 300 | -- | 300 | $85 | N/A | $96 |
November | 800 | -- | 800 | $227 | $144 | $256 |
December | 1,200 | -- | 1,200 | $340 | $216 | $384 |
| Annual Total | 6,280 | 1,050 | 7,330 | $2,079 | $1,468 | $2,345 |
HP Electric Rate saves ~$400/year. The discounted rate (available Nov-Apr from Eversource and National Grid) dramatically reduces winter heating costs. You must enroll separately after your heat pump is installed.
Side-by-side comparison of what you would pay each month with different heating systems in a typical 2,000 sqft Massachusetts home. Heat pump costs assume the HP electric rate where available.
| Month | Heat Pump | Gas + AC | Oil + AC | Baseboard |
|---|---|---|---|---|
| Jan | $145 | $185 | $290 | $385 |
| Feb | $130 | $165 | $260 | $345 |
| Mar | $98 | $125 | $195 | $260 |
| Apr | $52 | $65 | $90 | $130 |
| May | $25 | $30 | $35 | $40 |
| Jun | $57 | $65 | $65 | $70 |
| Jul | $65 | $75 | $75 | $80 |
| Aug | $60 | $70 | $70 | $75 |
| Sep | $34 | $40 | $40 | $45 |
| Oct | $55 | $70 | $110 | $145 |
| Nov | $108 | $140 | $220 | $290 |
| Dec | $135 | $170 | $270 | $355 |
| Annual Total | $964 | $1,200 | $1,720 | $2,220 |
Heat Pump Annual Cost
$1,200-$1,800
Lowest cost. Single system heats & cools.
Gas Furnace + AC Annual
$1,500-$2,200
Two systems. Gas prices trending up.
Oil Heat + AC Annual
$2,000-$3,500
Volatile oil prices. Delivery fees add up.
No two homes are alike. These six factors determine whether you land at the low or high end of the cost range.
A 1,500 sqft Cape Cod costs 30-40% less to heat than a 3,000 sqft Colonial. Multi-story homes lose more heat through upper floors.
Well-insulated homes (R-38+ attic, R-13+ walls) can cut heating costs by 30-50% compared to uninsulated older homes.
Every degree above 68F adds ~3% to your heating bill. Keeping it at 68F day / 62F night is the sweet spot for comfort + savings.
Boston (zone 5A) uses ~15% less heating energy than the Berkshires (zone 5A/6A). Cape Cod is milder thanks to ocean moderation.
HSPF2 of 10 costs ~20% less than HSPF2 of 8. Cold-climate models (Mitsubishi Hyper-Heat, Fujitsu XLTH) maintain high efficiency below 0F.
Eversource ($0.28/kWh) vs National Grid ($0.32/kWh) = 14% cost difference. The HP electric rate ($0.18-$0.19/kWh) saves 35-40%.
This is the #1 reason Massachusetts homeowners complain about high heat pump bills. If auxiliary (backup) electric resistance heat runs frequently, your monthly cost can jump from $130 to $300+ because you are heating at COP 1.0 instead of COP 3.0.
"Emergency Heat" mode enabled
Switch back to "Heat" or "Auto" mode on your thermostat. Emergency heat should only be used if the heat pump compressor fails.
Thermostat set too high (72F+)
Lower to 68F. Large temperature differentials trigger aux heat to "catch up" faster.
System undersized for the home
A proper Manual J load calculation prevents this. Mass Save requires it for whole-home rebates.
Poor insulation / air leaks
Schedule a free Mass Save home energy assessment. They will identify and often fix insulation gaps at 75-100% subsidized.
Massachusetts electric rates are not flat year-round. Understanding the rate structure helps you predict monthly costs more accurately.
~71% of MA households
Winter savings of $55-$115/month. Must enroll after HP installation.
~25% of MA households
Winter savings of $60-$120/month. Higher standard rate means bigger discount.
Your actual cost depends heavily on your home. Here are four common Massachusetts home profiles with realistic monthly heat pump cost ranges.
Built 1950s, moderate insulation
Heating/mo
$70-$130
Cooling/mo
$30-$55
Annual
$950-$1,350
Smaller footprint keeps costs manageable. Older insulation means more heating load.
Built 1980s, average insulation
Heating/mo
$80-$150
Cooling/mo
$40-$70
Annual
$1,200-$1,800
The "average" MA home. Two-story layout with moderate insulation.
Built 1890s, poor original insulation
Heating/mo
$110-$200
Cooling/mo
$50-$85
Annual
$1,600-$2,500
High ceilings and poor insulation drive up heating costs. Weatherization critical.
Built 2010+, good insulation
Heating/mo
$85-$140
Cooling/mo
$45-$75
Annual
$1,150-$1,700
Modern insulation and tight envelope. Despite larger size, costs are moderate.
These practical tips can save $30-$150/month on your heat pump electricity bill. Most are free or low-cost changes you can make today.
Each degree lower saves roughly 3% on heating costs. Set 68F daytime, 62F overnight.
Emergency heat bypasses the heat pump and runs pure electric resistance at COP 1.0 — 3x the cost.
Mass Save free home energy assessment identifies air leaks and insulation gaps. 75-100% subsidized.
Program lower temps when away/sleeping. Ecobee and Honeywell work well with heat pumps.
Eversource: $0.18/kWh vs $0.28/kWh standard. National Grid: $0.19/kWh vs $0.32/kWh. Nov-Apr only.
Snow/ice on the outdoor unit forces defrost cycles, which consume extra electricity.
Dirty filters restrict airflow and make the system work harder. Easy DIY maintenance.
A properly sized solar system can offset 100% of your heat pump electricity. Net metering credits cover winter.
Before worrying about heat pump running costs, get a free Mass Save home energy assessment. Poor insulation is the single biggest driver of high heat pump bills, and Mass Save will fix it at 75-100% subsidized.
Cost
Free
No-cost for all MA homeowners with Eversource, National Grid, or Unitil
What They Check
Everything
Insulation, air sealing, windows, ductwork, heating system efficiency
Insulation Rebates
75-100%
75% standard, 100% for income-eligible households. Blown-in, spray foam, attic.
Impact on HP Bills
-20 to -50%
Proper insulation can cut your heat pump running costs by 20-50% monthly
A heat pump runs on electricity. Solar panels generate electricity. Put them together and your net monthly energy cost can drop to zero. Massachusetts has some of the best net metering policies in the country, making this combination especially powerful.
Net metering covers winter bills
Solar overproduction in summer generates net metering credits at 1:1 retail rate. Those credits offset your winter heat pump electricity.
Typical offset: 8-12 kW system
An 8-12 kW solar system typically produces enough annual kWh to cover both household base load and heat pump electricity for a 2,000 sqft MA home.
SMART 3.0 adds $0.03/kWh income
The MA SMART program pays an additional $0.03/kWh for 20 years for residential solar. That is $330-$430/year in extra income on top of the bill offset.
Monthly payment comparison
Solar loan: ~$120-$170/month. Heat pump electricity: $80-$150/month. Together your total is the solar payment alone (the heat pump runs “free” on solar).
The full picture, including both heating and cooling costs, for a typical 2,000 sqft Massachusetts home.
Monthly avg: $92-$125 | Trend: stable
Monthly avg: $117-$150 | Trend: rising
Monthly avg: $125-$183 | Trend: rising
Monthly avg: $167-$292 | Trend: volatile
Monthly avg: $208-$333 | Trend: volatile
Monthly avg: $267-$375 | Trend: rising
Up to $8,500 in Mass Save rebates
$3,500-$25,000 depending on system type
$0.18-$0.19/kWh discounted winter rate
10-year cost comparison
Save $1,500-$2,400/year switching from oil
Free home assessment + insulation rebates
Eliminate your electric bill entirely
Save 60-70% switching from baseboard
What to look for in a MA HP installer
Get a free personalized heat pump quote for your Massachusetts home. We will show you the exact monthly cost based on your home size, insulation, and utility.