I got my december hydro bill and heres the cold hard numbers about my heat pump vs pellet stove since it was installed on November 1st. My electric bill runs from around the 17th of every month. For Nov/Dec period in 2009 I've used 572KWH for a period of 28 days (I know it was awesome) with the pellet stove. In 2010 the total was 1298Kw for a period of 29 days with the heat pump. For dec/jan then the usage was 786KWH for 2009 and 1739KWH for 2010. The difference between 2009 and 2010 besides the pellet stove we had a teen that moved in August, which increased the electric usage for quite a bit. It was not a constant difference so what I did is that I took the difference between 2009 and 2010 for august, september and October and calculated the average of the difference for those months. With it Im assuming that approx 390Kwh over 30days are because of the extra person in the Household. I know that its not super accurate but Its the only way I thought to get an idea of how much the person costs. If someone has a better idea please let me know. This means that for nov/dec period the heat pump used approx 336Kwh and for dec/jan 563Kwh. The hydro price is $0.11, 336*0.11=$36.96 and 563*0.11=$61.93. Pellets used for the same period of time in 2010 = 0 Unfortunately I didnt record the bags usage in 2009 so I dont know exactly how many bags were used, but I can safely say that it would averaged one bag per day so 29+33=62 bags. Cost of Bags $6.20 (with the taxes). 62*$6.20=$372.22 There you have it, $372.22-$98.89=$273.33 difference. Are this numbers accurate? No. Do they tell me something? Yes, the heat pump is saving me money from pellets, It might not be saving me $273 up until now, but it is undoubtedly saving me money. PS - I know that the pellet stove also used electricity but I cant put a KWH value to it but from the readings in 2009 it was not considerable.