Correspondingly, are electric furnaces expensive to run?
The costs to operate a gas furnace is about 63% cheaper than an electric furnace when heating an average sized home. In comparison, natural gas costs around $1.01 per therm to run. An electric furnaces cost to operate could be around $2,628 a year while a gas furnaces cost to operate would be around $1,800 a year.
Also, should I switch from electric furnace to gas? In most areas, natural gas costs less than electricity, and sometimes considerably so. This means you can expect lower heating bills with a gas furnace than with electric heat. The complexity and cost of switching to gas largely determine how long the payback period is.
Keeping this in consideration, how much more does electric heat cost than gas?
If you look at the raw numbers, electric heating is certainly more expensive than natural gas, coming in at an average of about $838 a year.
Are gas or electric furnaces more common?
Gas furnaces are much more common, and for many (but not all) they represent a huge cost savings over electric systems. Many modern homes lack gas lines as a result of the historical shortages. Other times, the difference between a gas and electric home is geographic region, which we'll talk about shortly.
