New Brunswick is one of the provinces where heat pumps have already moved from add-on to main system. That changes the economics of an HVAC company: a large installed base needs servicing, maintenance agreements become a real revenue line, and replacement work increasingly means swapping an older heat pump rather than converting from oil. The dashboard should reflect that, with agreement economics and heat-pump install margin near the top.
We are not accountants and not an HVAC contractor. Bookkeeping, tax and statements stay with your own CPA.
The New Brunswick market and its buyers
According to Statistics Canada, heat pumps were the primary heating system in 27% of New Brunswick households in 2023, while electricity was the main heating energy for 39% and wood for 6%. In practice, many homes combine a heat pump with electric baseboards or a wood stove as backup.
The main markets are Moncton and Dieppe, Saint John and Quispamsis, and Fredericton, with Miramichi and Edmundston serving the north and northwest. Distances between centres are long enough to affect technician productivity.
What that means for your KPIs:
- Split heat-pump service, heat-pump replacement and new heat-pump installs into separate lines. Their margins differ sharply, and a growing replacement market will shift your blend.
- Track agreement renewals closely. With a large installed base, the agreement list can become your most stable asset. See service-agreement economics.
Seasonality and the cash curve
Expect snow and real cold, harsher in the north and away from the Fundy shore. Heat pumps also cool, which gives many shops a second, smaller summer bump, though heating still brings in most of the year's cash.
For your dashboard:
- Use the shoulder months for agreement visits: heat-pump cleaning in spring and fall keeps technicians billing when demand dips.
- Watch drive time as a share of paid hours if you cover more than one city. A Moncton company taking calls in Miramichi pays for the highway.
Programs that touch your numbers (as of October 2026)
NB Power's Save Energy NB lists home programs including the Total Home Energy Savings Program, with incentives for heating, insulation and windows, and an income-qualified stream. The provincial oil-to-heat-pump co-delivery closed to new registrations in 2026. As programs change often, confirm current terms with Save Energy NB before quoting them.
For the dashboard:
- Note the share of replacement quotes that involve a program, and whether close rate differs.
- With the oil-to-heat-pump stream closed, watch whether conversion jobs decline as a share of revenue, and plan marketing for replacements and agreements instead.
A job-mix example
Say heat-pump service brings in $310,000 a year at 57% margin and heat-pump replacements bring in $540,000 at 33%. If replacements grow by $200,000 next year as older units age out, blended margin falls from about 41.8% to about 40.1% with no change in performance. Seeing the two lines separately stops that drift from being misread as a pricing problem.
Regulators to know
The province's Technical Inspection Services oversees boilers, pressure vessels, gas and propane installations, plumbing and electrical work, with related licensing. WorkSafeNB covers workplace insurance. We link for reference only and give no compliance advice.
Your CPA and the provincial body
Your books and tax stay with your own CPA. The provincial body for chartered professional accountants is CPA New Brunswick. We do not name or refer to partner firms.
How we would set up a New Brunswick dashboard
We would add heat-pump service and replacement as separate margin lines, put agreement renewals and visits completed near the top, and add a drive-time line for multi-city companies. The rest follows the owner dashboard checklist. See the areas hub for neighbouring provinces, or call, text or email to start.
Frequently asked questions
Why do service agreements matter so much in New Brunswick?
With heat pumps already common, there is a large installed base that needs cleaning and servicing. A well-priced agreement turns that base into steady shoulder-season work, which smooths cash.
Should I sell in French as well as English?
That is a business decision for you. New Brunswick's official bilingualism applies to provincial government services and does not require private businesses to be bilingual. If you serve both language communities, track booking rate by language to see whether it matters.
Are oil-to-heat-pump grants still available here?
The New Brunswick co-delivered oil-to-heat-pump stream closed to new registrations in 2026, so do not plan new revenue around it. Check Save Energy NB for current programs.
Sources
- Statistics Canada Table 38-10-0286-01: primary heating systems and fuel (2026-10-23)
- Save Energy NB: programs for your home (2026-10-23)
- Government of New Brunswick: Technical inspections (2026-10-23)
- CPA New Brunswick (2026-10-23)