Heat Pump vs Furnace in Nova Scotia — Which Is Cheaper Over 10 Years?
For most Nova Scotia homeowners, a cold-climate heat pump is significantly cheaper to operate than a furnace over a 10-year period. While heat pumps cost slightly more to install upfront, they can reduce annual heating costs by 30–60%, qualify for thousands in government rebates, and eliminate oil delivery and combustion maintenance costs. Over 10 years, heat pumps typically save $8,000–$18,000+ compared to furnaces.
Why This Comparison Matters in Nova Scotia
Nova Scotia has some of the highest home heating costs in Canada due to:
• Long winters
• High electricity and oil prices
• Older, poorly insulated housing stock
• Increasing carbon regulations on oil heating
Choosing the wrong heating system can lock homeowners into thousands of dollars in unnecessary costs.
Quinn Energy helps homeowners across Nova Scotia upgrade from outdated furnace systems to ultra-efficient cold-climate heat pumps designed specifically for Maritime weather.
Upfront Installation Cost Comparison
| System | Typical Install Cost | Rebates Available | Net Cost After Rebates |
|---|---|---|---|
| Oil Furnace | $6,000 – $10,000 | Minimal | $6,000 – $10,000 |
| Electric Furnace | $4,000 – $7,000 | None | $4,000 – $7,000 |
| Cold-Climate Heat Pump | $10,000 – $18,000 | Up to $10,000+ | As low as $2,000 – $8,000 |
Because of federal and provincial rebate programs, many homeowners actually pay less to install a heat pump than a furnace.
10-Year Operating Cost Comparison
| System | Avg Annual Heating Cost | 10-Year Cost |
|---|---|---|
| Oil Furnace | $3,000 – $4,500 | $30,000 – $45,000 |
| Electric Furnace | $2,500 – $3,800 | $25,000 – $38,000 |
| Heat Pump | $1,200 – $2,000 | $12,000 – $20,000 |
Estimated 10-Year Savings:
$8,000 – $18,000+ when choosing a heat pump.
Maintenance & Reliability
Furnaces rely on combustion, fuel storage, chimney exhaust, and annual cleanings.
Heat pumps use sealed electric compressors with minimal maintenance.
• No oil tanks
• No chimney
• No carbon monoxide risk
• No fuel delivery bills
Which Option Is Best for Your Home?
Heat pumps are ideal if you:
✔ Want the lowest possible heating bills
✔ Want to eliminate oil heating
✔ Want access to rebates & financing
✔ Want cooling in summer
✔ Want higher home resale value
Furnaces only make sense in very limited off-grid situations.
Why Nova Scotia Homeowners Choose Quinn Energy
Quinn Energy is a locally owned Nova Scotia energy contractor specializing in:
• Heat pump installation
• Oil to heat pump conversions
• Spray foam insulation
• HRV ventilation upgrades
• Rebates & financing assistance
Our team designs systems for Maritime weather — not generic mainland packages.
Ready to Find Your 10-Year Savings?
If you’re heating with oil or electric furnaces, you’re likely paying far more than necessary.
👉 Request your free heat pump quote today with Quinn Energy and see your 10-year savings in minutes.
