Heating Cost Comparison
One winter's heat, priced five ways: electric resistance, gas furnace, propane, heating oil, and heat pump. Same physics for every source — the differences are fuel prices and efficiency.
| Heat source | $ per million BTU | Season cost | vs cheapest |
|---|
How the math works
Every fuel delivers a known amount of heat: 1 kWh electricity = 3,412 BTU · 1 therm gas = 100,000 BTU · 1 gal propane ≈ 91,452 BTU · 1 gal heating oil ≈ 137,381 BTU. Divide by the equipment efficiency (furnaces lose 10–20% up the flue; resistance heaters lose none; a heat pump with COP 2.8 delivers 2.8× the heat it consumes), then price it with your fuel rates.
Default prices are national late-2026 averages (EIA/AAA/BLS data as compiled November 2026). Enter your local rates for real numbers — propane and oil vary hugely by region.
What the numbers say
- Heat pump vs everything: at COP 2.8 it competes with (often beats) a gas furnace — without any flue losses. In mild climates (COP 3+) it's usually the cheapest heat in the table.
- Electric resistance (baseboard, space heaters): the most expensive mainstream heat, period — but it needs no fuel delivery, which is why it persists in apartments.
- Propane & oil: regional lottery. Cheap in farm country, painful in the Northeast when prices spike.
- The real savings lever isn't the fuel — it's the thermostat. Every degree lower on an 8-month season saves roughly 3% of the bill regardless of fuel.