Should you choose electric or gas heat?

Like much of the US, Georgia experienced record cold temperatures in December. Now comes the sticker shock from keeping homes warm during that frigid week. It has many people re-evaluating their heat sources and energy costs.

Kiplinger looked at the benefits and drawbacks of electric and gas heat. It’s information that can help you decide which is best for you, and more economical, moving forward.

(From Kiplinger) With energy bills on the rise, comparing the costs of electric heat vs gas heat can be an important decision for homeowners looking to save money. Colder winter weather and a global energy shock are causing concern for residential heating customers. The U.S. Department of Energy projects that this winter heating bills will jump 28% for natural gas, 27% for heating oil, 10% for electricity, and 5% for propane.

If like most people, you’re keen to know how to cut energy costs — is there a difference between electric heat and gas heat, where homeowner bills are concerned? 

Electric heat: cost to run

According to the U.S. Energy Information Administration, the average cost of electricity in the U.S. is 16.32 cents per kilowatt hour or kWh. The EIA projects that electric heating costs for U.S. homeowners will average $1,359 for winter 2022-2023, a 10% increase from last winter.

Gas heat: cost to run

The Energy Information Administration estimates that homes heated by natural gas will spend about $930 this winter, 28% more than they spent last winter. This forecasted increase comes from both higher expected prices and consumption.

The EIA report also shows that gas-heating households in the Northeast and Midwest are projected to pay $1,000-$1,100 for the season, based on colder temperatures and higher demand, while homes in the West and South will pay between $700-$800.

>>Click here to read the full article from Kiplinger including some tips for reducing your heating costs.