# Heat pump vs. electric furnace and AC on Duke Energy Progress rates (SC)

> **Quick answer** (updated 2026-11-10): As of November 2026, for a typical 1,800 sq ft electrically heated home on Duke Energy Progress electricity rates in South Carolina that needs a new furnace and AC: A heat pump comes out ahead here even with a high quote: about $8,900 less than a new furnace and AC over 15 years at typical prices, and $660 a year less to run.

- Verdict: **heat pump ahead at any quote**
- Heat pump yearly running cost vs. a new electric furnace and AC: $660 less
- Break-even quote gap: the heat pump wins over 15 years if its quote is no more than $9,900 above the like-for-like quote
- Interactive calculator (change size, insulation, fuel, prices, ZIP): https://meterwise.app/sc/duke-energy-progress/heat-pump-vs-furnace/
- Machine-readable data: https://meterwise.app/data/v1/utilities/sc/duke-energy-progress.json

## Typical home: costs by option

1,800 sq ft, average insulation, heating with electricity, furnace and AC both need replacing.

| Option | Installed (typical) | Installed range | Rebates | Energy per year | 15-year total |
|---|---|---|---|---|---|
| New electric furnace + new AC | $10,120 | $7,330–$13,110 | – | $1,210 | $28,300 |
| Heat pump (replaces both) | $11,090 | $7,710–$14,460 | – | $560 | $19,400 |
| High-efficiency cold-climate heat pump | $14,460 | $10,600–$19,280 | – | $430 | $20,900 |

## Inputs

- Electricity: Duke Energy Progress's average residential price in SC (EIA), $0.149/kWh; the winter price of extra kWh is estimated at $0.130/kWh. Enter your own rate for a closer answer. Typical-bill price 14.9¢/kWh, -6% vs. the South Carolina average of 15.8¢/kWh.
- Weather: Florence Rgnl AP, 2,334 heating and 2,257 cooling degree days a year (NOAA 1991-2020 normals).
- Gas: $1.63/therm (South Carolina winter average, EIA); propane $3.66/gallon; heating oil $5.93/gallon.
- Homes in this utility's South Carolina area heat with electricity 84%, gas 9%, propane 5%, other 1% (U.S. Census Bureau ACS 2019-2023).
- Installed prices: published study ranges, scaled for home size and South Carolina HVAC installer wages (BLS).
- Rebates: not yet checked in South Carolina, so not included.

## Common questions

**Is a heat pump worth it for Duke Energy Progress customers?**
As of November 2026, for a typical 1,800 sq ft electrically heated home on Duke Energy Progress electricity rates in South Carolina that needs a new furnace and AC: A heat pump comes out ahead here even with a high quote: about $8,900 less than a new furnace and AC over 15 years at typical prices, and $660 a year less to run.

**How much does a heat pump cost to run on Duke Energy Progress's rates?**
About $560 a year for heating and cooling with the Heat pump (replaces both) option, against $1,210 for New electric furnace + new AC.

**What electricity price does this use?**
Electricity: Duke Energy Progress's average residential price in SC (EIA), $0.149/kWh; the winter price of extra kWh is estimated at $0.130/kWh. Enter your own rate for a closer answer.

## Method

Heating and cooling need from local weather, floor area and insulation; each option's efficiency (heat pumps lose
efficiency in the cold and use backup heat in cold months) turns that into kWh and fuel; electricity is priced
through the utility's tariff; installed costs come from published ranges. Full method: https://meterwise.app/about/index.md

Estimates for a typical home, not a quote or financial advice.

## Other South Carolina utilities

- [Aiken Electric Coop Inc](https://meterwise.app/sc/aiken-electric-coop-inc/heat-pump-vs-furnace/index.md)
- [Berkeley Electric Coop Inc](https://meterwise.app/sc/berkeley-electric-coop-inc/heat-pump-vs-furnace/index.md)
- [Black River Electric Coop, Inc](https://meterwise.app/sc/black-river-electric-coop-inc/heat-pump-vs-furnace/index.md)
- [Blue Ridge Electric Coop Inc](https://meterwise.app/sc/blue-ridge-electric-coop-inc/heat-pump-vs-furnace/index.md)
- [Broad River Electric Coop, Inc](https://meterwise.app/sc/broad-river-electric-coop-inc/heat-pump-vs-furnace/index.md)
- [Duke Energy Carolinas](https://meterwise.app/sc/duke-energy-carolinas/heat-pump-vs-furnace/index.md)
- [Edisto Electric Coop, Inc](https://meterwise.app/sc/edisto-electric-coop-inc/heat-pump-vs-furnace/index.md)
- [Fairfield Electric Coop, Inc](https://meterwise.app/sc/fairfield-electric-coop-inc/heat-pump-vs-furnace/index.md)
- [Horry Electric Coop Inc](https://meterwise.app/sc/horry-electric-coop-inc/heat-pump-vs-furnace/index.md)
- [Laurens Electric Coop, Inc](https://meterwise.app/sc/laurens-electric-coop-inc/heat-pump-vs-furnace/index.md)
- [Lockhart Power Co](https://meterwise.app/sc/lockhart-power-co/heat-pump-vs-furnace/index.md)
- [Lynches River Elec Coop, Inc](https://meterwise.app/sc/lynches-river-elec-coop-inc/heat-pump-vs-furnace/index.md)
- [All South Carolina utilities](https://meterwise.app/sc/index.md)

## Cite this page

MeterWise, "Heat pump vs. electric furnace and AC on Duke Energy Progress rates (SC)", updated 2026-11-10, https://meterwise.app/sc/duke-energy-progress/heat-pump-vs-furnace/. Data licensed CC BY 4.0.