A heat pump costs a little more than a gas furnace around 8 000 vs.
Natural gas vs electric heat cost 2017.
The lifetime cost of an electric furnace is higher than a gas furnace operating under the same conditions even when taking into account the longer.
When you consider that natural gas is considered quite affordable and that the heating season is slightly longer than the cooling season many homeowners find that a combination gas furnace paired with an electric heat pump is arguably the ideal heating and cooling setup for homes in richmond va and the surrounding central virginia region.
If the natural gas cost is 15 00 per 1 000 cubic feet the same 15 00 will purchase around one million btus this is the equivalent of slightly over 11 20 gallons of propane.
From this you might conclude that electric heating must be more expensive but this is not necessarily the case due to a very important piece of technology.
The biggest flaw with electric furnaces is that while some boast near 100 percent efficiency the higher cost of electricity makes electric heat more expensive than gas heat.
Gas furnaces last approximately 15 to 18 years according to consumer reports and the average cost for gas furnace systems is around 3 000.
5 000 after rebates but it is vastly more energy efficient.
These numbers will need some context.
Gas furnace come down to where you live.
On face value natural gas seems to be the clear winner but the annual energy bill is actually very close when considering electrical heat systems with upwards of 300.
Why choose a heat pump over a gas furnace.
Cost of heating oil 2 50 for 100 000 btu.
Most of the reasons you would choose a heat pump vs.
Cost of electricity 2 93 for 100 000 btu.
The higher cost of a more efficient gas system will most often be offset by lower fuel costs in regions with harsh winters.
Cost of natural gas 1 10 for 100 000 btu.
Natural gas cost comparison.
If you live in the south where winter temperatures may only reach 40 to 60 degrees then a heat pump is the best fit for your home.
Additionally a gas furnace will heat the home faster because the heat produced is hotter than the heat produced by electric coils.
For example to heat a home with electric resistance heat would cost more than 4 times as much as natural gas based on similar consumption.
While natural gas remains the most widely used home heating fuel in the u s this type of fuel may not be available in all areas.
If you live in an area where electricity costs less than gas then a heat pump is also the better option.
If propane costs 2 50 per gallon in this example natural gas is the cheaper alternative.
Since data is not available for massachusetts by itself this comparison is based on an average house in new england which is assumed to be 2186 square feet sq ft with a heated area of 1861 sq ft based on.
