Heat pump cost in Illinois
Heat pump: about $2,667 a year. Furnace plus AC: about $1,295. With gas at $1.07/therm, Illinois homes save about $1,373 a year by keeping the furnace, based on state-average EIA prices for a 2,000 sq ft home.
Sizing for this climate
With 6,105 heating degree days, Illinois ranks 17th for heating need; cooling adds 889 degree days (NOAA). So heating dominates, so winter efficiency decides the outcome. Jan's degree days imply a monthly mean near 24°F (rough approximation); standard heat pumps lose capacity in deep cold and lean on electric backup, so our HSPF2 figures are optimistic here and a cold-climate model is the safer pick.
Size for the winter load and confirm cooling isn't far oversized, or keep a furnace for the coldest days (dual fuel).
Annual cost to run
| Heat pump heat, 7.5 / 9.5 HSPF2 | $2,478 / $1,956 |
| Heat pump cooling, 14.3 SEER2 | $189 |
| Furnace, 95% / 80% AFUE | $1,093 / $1,298 |
| AC at 13.4 SEER2 (North min) | $202 |
| Heat pump vs furnace + AC | $2,667 vs $1,295 |
At $1,373 a year extra, the heat pump needs a lower install price or comfort benefits to justify it.
19.22¢/kWh (EIA, July 2026 YTD); gas $1.07/therm (EIA 2025, $11.25/Mcf at 1,048 Btu/ft³). Energy only; estimates.
Across the border
| State | Heat pump | Furnace + AC | Break-even |
|---|---|---|---|
| Missouri | $1,664 | $1,421 | 11.5¢ |
| Kentucky | $1,519 | $1,189 | 10.7¢ |
| Iowa | $2,173 | $1,274 | 7.9¢ |
| Indiana | $2,197 | $1,203 | 8.6¢ |
| Illinois | $2,667 | $1,295 | 8.5¢ |
| Wisconsin | $3,129 | $1,401 | 8.1¢ |
Install budget
Budget estimate (national, not Illinois-specific): $10,000–$20,000+ for a 2,000 sq ft home. For a heating climate like Illinois's, the 18–19 SEER2 / 9–10 HSPF2 class at $11,000–$18,000+ is the sensible starting point.
Source: HomeGuide, “How much does a heat pump cost?” (2026).
Cost per month
| Month | HDD | CDD | Heat pump | Furnace + AC |
|---|---|---|---|---|
| Jan | 1269 | 0 | $515 | $227 |
| Feb | 1030 | 0 | $418 | $184 |
| Mar | 815 | 2 | $331 | $146 |
| Apr | 452 | 2 | $184 | $81 |
| May | 193 | 70 | $93 | $51 |
| Jun | 27 | 189 | $51 | $48 |
| Jul | 5 | 287 | $63 | $66 |
| Aug | 16 | 241 | $58 | $58 |
| Sep | 77 | 88 | $50 | $34 |
| Oct | 375 | 8 | $154 | $69 |
| Nov | 740 | 0 | $300 | $133 |
| Dec | 1106 | 0 | $449 | $198 |
Quick answers
How much should I budget for a heat pump in Illinois?
Plan on roughly $10,000–$20,000+ (2,000 sq ft, national HomeGuide range).
Break-even rate for heat pumps in Illinois?
About 8.5¢/kWh for a 7.5 HSPF2 heat pump against a 95% furnace at $1.07/therm; prices would need to fall about 10.7¢ from Illinois's 19.22¢ average. A 9.5 HSPF2 unit would heat for $1,956 a year.
Is a heat pump tax credit available now?
Only if it was placed in service by December 31, 2025. 25C paid 30% of cost up to $2,000 a year for qualifying heat pumps; 2025 installs needed a QMID. 2026 installs don't qualify. Source: IRS: Energy Efficient Home Improvement Credit.
Will a heat pump keep up in a Illinois winter?
Standard units lose capacity in deep cold; with 6,105 heating degree days, choose a cold-climate model or keep gas backup.
More: AC running cost in Illinois · heat pump vs gas furnace calculator · heat pump cost by state
Sources: EIA electricity and natural gas prices, NOAA nClimDiv, U.S. DOE regional standards. Model: 2,000 sq ft, average insulation; methodology.