Heat pump vs. furnace in Minnesota by electric utility

What to know about the Minnesota numbers

• Rebates not checked yet. We haven't checked heat pump rebates in Minnesota yet, so the numbers here leave them out. Utility and state programs can take thousands off a heat pump, so ask your utility and your contractor what's available.
• Mostly average prices. Only 43% of Minnesota ZIP codes here are priced on a current utility tariff. The rest use the utility's average price from the U.S. Energy Information Administration, which is about two years old and doesn't show tiers, so the winter price of extra kWh is estimated. Enter the rate from a recent bill for a closer answer.
• Time-of-use rates. One utility's tariff here charge different prices by time of day. We assume heating and cooling use is spread evenly across the day, which can be off if most of yours falls in peak hours.