Price ranges + financing
What a heat pump costs in the GTA
Most GTA installs fall between [12,000 and 22,000 dollars] for a ducted whole-home system and [5,000 to 8,000 dollars] per zone for ductless, before rebates. Panel upgrades, ductwork changes and the number of indoor units move the price most.
| System | Typical installed price |
|---|---|
| Central ducted | [$12,000–$22,000] |
| Ductless mini-split | [$5,000–$8,000] per zone; [$10,000–$18,000] multi-zone |
| Hybrid (dual fuel) | [$10,000–$16,000] |
What moves the price
- Electrical panel upgrade
- [$2,000–$4,000]
- Ductwork changes
- Measured on the visit
- Number of indoor units (ductless)
- [$5,000–$8,000] per zone
- Backup heat (if needed)
- Stated in writing on the quote
After rebates
From installed price to your net
Toronto homeowners can finance the balance through the City's HELP loan: a $10,000 balance is about $45/month over 20 years (11 payments a year), at 5.12% fixed, rates valid to Dec 31, 2026.
Example: gas-heated home, 3-ton ducted system
Installed price
[$15,500]
Ontario Home Renovation Savings
$500/ton × 3 tons
−$1,500
National Heat Pump Rebate
When open, if eligible
−$2,000
Toronto HELP loan
Financing, not subtracted
[$X]/month
Your net
[$12,000]
Sources: homerenovationsavings.ca, pm.gc.ca
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