Heat Pump vs. Electric Heating: What Actually Saves Money

The real cost of heating your home

Electric resistance heating is simple and cheap to install, which is why so many Macedonian homes still rely on it. But “cheap to install” and “cheap to run” are two very different things. An electric heater converts roughly 1 kWh of electricity into 1 kWh of heat — a 1:1 ratio. A modern heat pump can turn that same 1 kWh into 3–4 kWh of heat, because it moves heat from the outside air rather than generating it from scratch.

What that means on your EVN bill

For a typical 120 m² home in North Macedonia, electric heating can mean several hundred euros a year more than a heat pump covering the same space — the exact figure depends on insulation, climate and how many hours the system runs. Our savings calculator on the BFM website gives a quick estimate based on your home size and current heating type, using the current EVN residential rate.

What about the upfront cost?

A heat pump costs more to install than a basic electric heater or old-style boiler. That's the honest trade-off. But most households recover that difference within a handful of winters through lower running costs, and the system typically lasts 15–20 years with proper maintenance — meaning most of its lifespan is spent saving money, not paying it back.

Comfort, not just cost

Heat pumps also heat more evenly than electric convector heaters, and the same unit can cool your home in summer — effectively replacing both your heating and air conditioning with one system. For homes doing a renovation or replacing an ageing boiler, that dual function is often the deciding factor.

Is it right for your home?

The best system depends on your home's size, insulation and current setup. BFM's team can walk your property, look at your existing heating, and size a heat pump that fits your budget and comfort goals — no pressure, just numbers you can check yourself.