The domestic sphere of heat supply, which is currently in decline due to the critical technical condition of Russia’s heat sector, requires measures to modernize it. It is necessary to strive for innovative development of the sector. The introduction of innovations can significantly accelerate the modernization processes, as well as ensure the fulfillment of environmental safety property of heat supply, that is, the ability to influence the reduction of environmental damage to the environment during the operation of heat supply facilities. The main entity implementing modernization processes and innovative solutions in heat supply systems is a unified heat supplying organization, which is legally assigned the function of strategic development of the heat supply system in its subordinate territory. The issues of modernization and innovative development of heat supply systems involve the need for significant investments in these processes. In this regard, the author’s approach to assessing the effectiveness of introducing innovations into a single heat supply organization and the heat supply system assigned to it has been formed using criteria that allow jointly assessing both economic efficiency and environmental and social effects of decisions taken and innovations implemented.