Introduction
Winter heating bills are one of the biggest expenses for homeowners in the Greater Toronto Area (GTA)—especially for those relying on oil furnaces. A typical 2,000 sqft home can spend more than $3,000 every winter just to stay warm.
Switching to a 36,000 BTU cold-climate heat pump can cut those costs by more than half, while also adding comfort and long-term value to your home.
1. Oil Furnace – Winter Heating Costs
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- House size: 2,000 sqft detached home
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- Heating requirement: ~36,000–40,000 BTU/h average
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- Winter oil use (Dec–Mar): ~1,800 litres
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- Average cost at $1.80/L: ≈ $3,240
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- Add delivery & tank fees: ≈ $3,400–$3,500 per winter
That’s the reality for thousands of Ontario homeowners each winter.
2. Heat Pump – Winter Heating Costs
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- System size: 36,000 BTU/h (3-ton) cold-climate heat pump
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- Performance: Efficient operation down to –20°C
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- Winter cost (Dec–Mar): ~$900–$1,200 for the same home
That’s one-third the cost of oil, without the hassle of deliveries or tank maintenance.
3. Winter Savings
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- Oil furnace: $3,400–$3,500 per winter
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- Heat pump: $900–$1,200 per winter
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- Savings: ~$2,300–$2,600 every winter
That’s a 65–70% cut in heating bills—money you keep year after year.
4. Rebates & Financing
Switching is made easier with government support:
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- Oil to Heat Pump Affordability (OHPA) Program: Up to $10,000 grant
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- Canada Greener Homes Loan: Up to $40,000 interest-free financing
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- HOME RENOVATION SAVINGS program
With these programs, many homeowners cover most—if not all—of their upfront costs.
5. Beyond Savings – Comfort & Value
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- Consistent warmth throughout winter
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- Year-round comfort → heating in winter, cooling in summer
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- No more oil deliveries, leaks, or tank replacements
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- Cleaner and quieter system inside your home
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- Higher resale value as buyers look for energy-efficient homes
Conclusion
For a 2,000 sqft detached home in the GTA, upgrading from an oil furnace to a 36,000 BTU cold-climate heat pump can save over $2,500 each winter. With rebates covering much of the installation cost, it’s one of the smartest moves you can make before the cold weather hits.
At Pinewoods Hill Eco Solution, we specialize in OIL to HEAT PUMP conversions. Our team handles everything for you—from energy audits and rebate applications to full installation—making the switch simple, affordable, and stress-free.
