Hi Folks, I'm having my furnace replaced this spring. My wife and I are debating whether to replace our gas with an electric, as the rising cost of gas is making them much more comparable cost wise. Doesn't look like gas costs are going to moderate anytime soon. Also supposedly (I'm not a HVAC pro) electric is cheaper and an easier install. Can anyone give me an informed opinion?
It all depends on the prices in your area.
Here in SE Wisconsin, Gas is $1.30/therm and elec is $0.094/KWH
so for 100,000 BTU of usable heat
Gas @ 95% - $1.37
Elec. resistance - $2.75
Elec. air source heat pump @ COP 3 - $0.92
I have friends that live in central Illinois, and their elec is $0.025/KWH for space heating - so for them electric is way cheaper.
What are the prices in your area. Post them here and someone will tell you which way is cheapest.
Also remember that in a lot of areas, utilities are (very stupidly) changing alot of power plants over to natural gas. So electric rates are more than likely going to be rising soon as well.
I would reccomend a duel fuel setup - an air source heat pump with a gas backup.
Post your utility rates and we can figure the end cost for you.