Is a heat pump cheaper than gas in Oklahoma?
South · Mixed (e.g. Mid-Atlantic, Pacific NW, lower Midwest) · EIA residential fuel prices
For a reference 2,000 sq ft home in Oklahoma (assumed seasonal COP 2.8, 95% gas furnace), a heat pump costs about $511/year to run versus about $594/year for natural gas — so a heat pump is cheaper to run than a gas furnace by about $83/yr. It is cheaper than propane ($934/yr), cheaper than heating oil ($1,373/yr), and far cheaper than electric resistance ($1,431/yr). The cheapest option here is heat pump. These are estimates — verify with an HVAC pro.
Source: EIA Electric Power Monthly, Table 5.6.A (residential). Data as of June 2026.
Oklahoma residential fuel prices
| Fuel | Residential price | Source / period |
|---|---|---|
| Electricity (residential) | 13.56¢/kWh | EIA, March 2026 |
| Natural gas (residential) | $1.567/therm (US avg) | EIA, March 2026 |
| Heating oil (residential) | $4.491/gal | EIA, Midwest (PADD 2) |
| Propane (residential) | $2.184/gal | EIA, Midwest (PADD 2) |
Source: EIA (electricity, natural gas, heating oil & propane). Data as of June 2026.
EIA did not publish a March 2026 residential natural-gas price for Oklahoma; the U.S. average of $16.25/Mcf is used and flagged. Heating oil and propane are EIA residential prices for Midwest (PADD 2) (Week ending 2026-03-30) — EIA does not publish these per individual state.
Annual heating cost in Oklahoma — every system compared
Reference: a 2,000 sq ft home in a mixed (e.g. mid-atlantic, pacific nw, lower midwest), roughly 36 MMBTU/year of useful heat. Energy cost only (no equipment, install or maintenance):
| Heating system | Annual energy cost | Annual use |
|---|---|---|
| Heat pump | $511/yr | 3,768 kWh |
| Natural gas furnace (95% AFUE) | $594/yr | 379 therms |
| Propane furnace (92% AFUE) | $934/yr | 428 gal |
| Heating oil (85% AFUE) | $1,373/yr | 306 gal |
| Electric resistance (baseboard, COP 1.0) | $1,431/yr | 10,551 kWh |
Source: EIA fuel prices + ENERGY STAR energy conversions. Data as of June 2026.
Cheapest to run in this reference case: Heat pump. Run your own home size, COP and prices.
Heat pump vs each fuel in Oklahoma
| Comparison | Heat pump | Other system | Heat-pump result |
|---|---|---|---|
| vs natural gas (95% AFUE) | $511 | $594 | Saves $83/yr |
| vs propane (92% AFUE) | $511 | $934 | Saves $423/yr |
| vs heating oil (85% AFUE) | $511 | $1,373 | Saves $862/yr |
| vs electric resistance (COP 1.0) | $511 | $1,431 | Saves $920/yr |
How Oklahoma compares with similar states
The five states with the closest electricity price to Oklahoma, and how heat-pump-vs-gas savings look there:
| State | Electricity ¢/kWh | Heat-pump vs gas (ref. home) |
|---|---|---|
| Oklahoma (this state) | 13.56¢ | Saves $83/yr |
| Wyoming | 13.59¢ | $677/yr more |
| Arkansas | 13.63¢ | Saves $384/yr |
| Montana | 13.48¢ | $848/yr more |
| Missouri | 13.44¢ | Saves $69/yr |
| Iowa | 13.42¢ | $236/yr more |
Frequently asked questions
Is a heat pump cheaper to run than gas in Oklahoma?
Yes, in this reference case. For a 2,000 sq ft home in Oklahoma (assumed seasonal COP 2.8, 95% gas furnace), a heat pump costs about $511/year vs about $594/year for gas - a saving of roughly $83/year. Your result depends on your home, equipment and the actual winter.
What does it cost to heat a home in Oklahoma?
Using EIA March 2026 prices and a 2,000 sq ft home in a mixed (e.g. mid-atlantic, pacific nw, lower midwest) (about 36 MMBTU/yr), estimated annual energy cost is about: heat pump $511, natural gas $594, propane $934, heating oil $1,373, electric resistance $1,431. The cheapest here is heat pump.
Is a heat pump cheaper than propane or heating oil in Oklahoma?
In this reference case, vs propane a heat pump saves about $423/year, and vs heating oil it saves about $862/year. Heat pumps usually beat both delivered fuels comfortably because they deliver far more heat per unit of energy.
How does Oklahoma rank for heat-pump savings?
On heat-pump savings vs a gas furnace (reference 2,000 sq ft home), Oklahoma ranks #7 of 51 states (1 = saves the most). This reflects Oklahoma's mix of 13.56¢/kWh electricity and US-average gas.
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Sources & accuracy
Electricity: EIA Electric Power Monthly, Table 5.6.A (residential) (March 2026); natural gas: EIA residential price (March 2026); heating oil & propane: EIA Heating Oil and Propane Update (Midwest (PADD 2), Week ending 2026-03-30); energy constants: ENERGY STAR Thermal Energy Conversions. All U.S. public domain. These are statewide/regional averages and the comparison is an estimate, not a quote or engineering analysis. Actual savings depend on your home, climate, equipment and rates. Verify with an HVAC professional. See methodology and disclaimer.
Last updated: 2026-06-29