Prince Edward Island has a heating market unlike any other province. A very large share of homes now rely on heat pumps as their main system, oil is still common, and the island is small enough that a handful of companies serve most of it. For an HVAC owner, that means the installed base of heat pumps is the business: servicing it, keeping it under agreement, and replacing units as they age. The dashboard should be built around those three things.
We are not accountants and not an HVAC contractor. Bookkeeping and tax stay with your own CPA.
The PEI market and its buyers
Heat pumps lead. Statistics Canada reports that in 2023 heat pumps were the primary heating system in 36% of PEI homes, while oil was the main heating energy for 28%, electricity for 18% and wood for 8%. Many oil-heated homes also have a heat pump as a partner system.
Most of the Island's work clusters around Charlottetown and Summerside, plus nearby Stratford and Cornwall and the Three Rivers area to the east. Distances are modest compared with the mainland, yet a day of rural calls still eats paid hours.
What that means for your KPIs:
- Heat-pump service and cleaning can be the highest-volume job type. Give it its own margin and revenue-per-hour lines.
- Agreement members are the core asset. Renewal rate and active members belong at the top of the dashboard. See service-agreement economics.
- Replacement of older heat pumps deserves a separate line from first-time installs, because the sales conversation and install hours differ.
Seasonality and the cash curve
PEI winters are cold and snowy, moderated by the surrounding Gulf of St. Lawrence. Heat pumps run in both heating and cooling seasons, so demand is spread more evenly than in a furnace market, but the coldest weeks still bring a peak in no-heat and backup-heat calls.
For your dashboard:
- Spread agreement visits through spring and fall to keep technicians busy in the gentler weeks.
- Track weeks of cash monthly. A flatter curve is helpful, but a small market leaves less room for an unexpected slow month.
Programs that touch your numbers (as of October 2026)
The efficiencyPEI page states that its free heat pump program and oil-to-heat-pump stream are closed to applications, and the residential heat pump equipment rebates ended in April 2026. Confirm current status directly with efficiencyPEI before referring to any program.
For the dashboard:
- Watch new-install bookings month by month since the rebates closed. A drop is expected; the question is how fast service and replacement work can fill the gap.
- Review your marketing cost per booked job by job type. Spending that worked when installs were subsidised may not pay for unsubsidised work. See marketing cost per booked job.
An agreement example
Picture a company with 900 heat-pump agreement members at $189 a year. A renewal rate of 82% keeps about 738 of them; lifting it to 88% keeps about 792. Those 54 extra members bring $10,206 in plan fees, plus whatever repair and replacement work they send your way. On a small island, that kind of retention gain can matter more than a new marketing channel.
Regulators to know
The province's Inspection Services covers boilers and pressure vessels, electrical, plumbing and propane, with related licensing. The Workers Compensation Board of PEI 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 professional body is CPA Prince Edward Island. We do not name or refer to partner firms.
How we would set up a PEI dashboard
We would lead with active agreement members, renewals and heat-pump service margin, add a new-install bookings line to watch the post-rebate market, and keep the rest of the owner dashboard short. See the areas hub for the other Atlantic provinces, or call, text or email to begin.
Frequently asked questions
What happens to demand when rebates close?
Usually, new installs slow while service and replacement work continues. Watch new-install bookings and close rates monthly after a program closes, and adjust staffing and marketing before cash feels it.
Is a small island market worth a full dashboard?
A shorter version often works better. Six or seven lines covering job-type margin, revenue per paid hour, agreements and weeks of cash are enough for most PEI companies.
Do you visit PEI clients?
Consultations are available in person or by video call, as well as by phone, text and email, which suits companies anywhere on the Island.
Sources
- Statistics Canada Table 38-10-0286-01: primary heating systems and fuel (2026-10-23)
- Government of PEI: efficiencyPEI (2026-10-23)
- Government of PEI: Inspections and technical safety (2026-10-23)
- CPA Prince Edward Island (2026-10-23)