Beatrice Lang
Electric furnaces are more expensive to run than natural gas furnaces, with electricity costs potentially being double those of natural gas. The average cost of running an electric furnace is $130 to $180 per month, or $1,600 to $3,800 per year. However, electric furnaces are generally cheaper and easier to install than gas furnaces, with a new installation costing between $4,700 and $19,100, and replacement costing $1,300 to $8,400. The cost of running an electric furnace depends on various factors, such as home size, insulation, electricity rates, and outdoor temperatures. To reduce energy costs, homeowners can ensure their homes are well-insulated and sealed, and consider upgrading to a more energy-efficient model.
| Characteristics | Values |
|---|---|
| Installation cost | $4,700 to $19,100 for a new installation, $1,300 to $8,400 for a replacement |
| Unit cost | $800 to $4,500 |
| Installation labor cost | $750 to $2,500 for replacements, $600 to $2,300 for new installs |
| Electrical upgrades cost | $250 to $2,500 |
| Framing in a utility closet cost | $500 to $2,000 |
| Ductwork cost | $35 to $55 per linear foot, totaling $500 to $2,000 for the average single-family home |
| Inspection cost | $150 to $500 |
| Operating cost | $130 to $180 per month, $1,600 to $3,800 per year |
| Cost-effectiveness compared to gas furnaces | Electric furnaces cost 2 to 4 times as much to run as gas furnaces |
| Lifespan | 20 to 30 years |
| Ideal for | Small spaces without external air ducts, warmer climates, homeowners without access to natural gas |
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What You'll Learn
Electric furnaces are more expensive to run than gas furnaces
There are several reasons why electric furnaces are more costly to run. Firstly, electricity rates are generally higher than natural gas rates. Secondly, electric furnaces may be less efficient in colder climates as they have to work harder to produce the necessary heat, resulting in increased energy usage. In contrast, gas furnaces tend to be more powerful and can reach the desired temperature faster, using less energy overall.
The cost of running an electric furnace also depends on various factors such as home size, insulation quality, local electricity rates, and climate. Larger homes, poor insulation, and colder climates can all contribute to higher energy consumption and, consequently, higher electricity bills.
While electric furnaces may be more expensive to run, they do have certain advantages. They are generally easier and less costly to install than gas furnaces, especially in homes without existing ductwork. Electric furnaces also have a longer lifespan, typically lasting 20 to 30 years compared to 15 to 25 years for gas furnaces. Additionally, electric furnaces are ideal for small spaces, warmer climates, and homes without access to natural gas.
To optimize energy efficiency and reduce costs, homeowners can consider upgrading to a more energy-efficient model, ensuring proper insulation, and regularly maintaining their electric furnace.
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Electricity costs more than natural gas
The cost of running an electric furnace depends on several factors, including the size of your home, the quality of insulation, electricity rates, outdoor temperatures, and the model of the furnace.
Electric furnaces are ideal for small spaces without external air ducts, warmer climates that need less heating, or homeowners without access to natural gas. They are also cheaper and easier to install than gas furnaces. However, electricity costs more than natural gas, which means you'll spend more money to heat your home to the same temperature.
The average cost of electricity in the US was 13.3 cents per kilowatt-hour as of August 2019. In comparison, natural gas costs around $1.01 per therm to run. The cost to operate an electric furnace would be around $2,628 a year, while the cost to operate a gas furnace would be approximately $1,800 a year. This will depend on the average climate in your area.
The cost of electricity in BC has risen substantially over the years, and further increases are expected. At current energy prices, it costs more than three times as much to heat a home with an electric furnace than with a high-efficiency gas furnace.
In colder climates, electric furnaces may be less efficient because they have to work harder to produce the necessary heat, leading to higher energy usage.
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Installation costs: \$800 to \$4,500 for the unit, plus labour
The cost of an electric furnace unit can range from $800 to $4,500, depending on the unit size, which is measured in BTUs (British Thermal Units). The price also depends on factors such as local labour rates, electrical upgrades, and ductwork condition.
If you are installing an electric furnace for the first time, you will need to hire an electrician to build a dedicated electrical circuit, which costs $500 to $2,000. You may also need to install ductwork for heat distribution, which costs $35 to $55 per linear foot, with a total cost of $500 to $2,000 for the average single-family home.
Installation labour for an electric furnace typically costs $750 to $2,500 for replacements and $600 to $2,300 for new installs. Furnace technicians charge $75 to $150 per hour, and the installation process can take 5 to 18 hours, depending on the complexity of the job.
It is important to note that installing an electric furnace is not a DIY project, and in some areas, it may even be illegal to attempt installation without a license. Always consult with a licensed electrician or HVAC professional to ensure safe and proper installation.
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Operating costs: \$130 to \$180 per month
Electric furnaces are ideal for small spaces without external air ducts, warmer climates that require less heating, or homeowners without access to natural gas. The operating costs of an electric furnace are $130 to $180 per month, or $1,600 to $2,200 per year. The cost of running an electric furnace depends on several factors, including the size of your home, the quality of insulation, the model of the furnace, electricity rates, and outdoor temperatures.
Electric furnaces produce heat using electricity, which means that they will have a direct impact on your monthly energy bills. On average, electricity costs around $0.13 per kilowatt-hour, so running your furnace costs an average of $160 to $315 per month or $1,900 to $3,800 per year. However, these figures may differ due to varying electricity prices, weather conditions, and home sizes.
The cost of electricity in BC, Canada, has risen substantially over the years, and further increases are expected. At current energy prices, it costs more than three times as much to heat a home with an electric furnace than with a high-efficiency gas furnace. This is because electricity almost always costs more than natural gas, which is the main energy source for 77% of households in Alberta, Canada.
To keep your heating bills lower, ensure your home is well-insulated and sealed. You can also consider installing a heat pump, which only moves heat from one location to another instead of burning fuel to create heat. A heat pump can achieve efficiencies of over 100% and typically operates at about 400% efficiency, meaning that 4 watts of heat are produced for every watt of electricity consumed.
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Cheaper to replace than gas furnaces, but more costly to run
Electric furnaces are cheaper to replace than gas furnaces, but they are more expensive to run. The cost of running an electric furnace is influenced by factors such as home size, insulation quality, and local electricity rates. On average, electricity costs around $0.13 per kilowatt-hour, resulting in an average monthly cost of $130 to $180 for running an electric furnace. This equates to an annual cost of $1,600 to $3,800.
In contrast, the cost of operating a gas furnace is about 63% cheaper than an electric furnace for heating an average-sized home. The lower cost of natural gas compared to electricity contributes to the higher cost of running an electric furnace.
Electric furnaces are also less efficient in colder climates as they have to work harder to produce the necessary heat, leading to increased energy usage. However, electric furnaces are generally easier and less costly to install than gas furnaces, as they do not require additional venting and drainage work.
The installation cost of an electric furnace can range from $800 to $4,500, depending on factors such as unit size, ductwork, and complexity. Replacing an existing electric furnace is significantly cheaper than installing a new one, with replacement costs averaging $1,300 to $8,400.
Overall, while electric furnaces have lower replacement costs than gas furnaces, they incur higher operational costs, making them more expensive to run over time.
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Frequently asked questions
The cost of running an electric furnace depends on several factors, including the size of your home, the quality of insulation, electricity rates, outdoor temperatures, and the furnace model. On average, it costs $130 to $180 per month or $1,600 to $3,800 per year to run an electric furnace.
Yes, electric furnaces are more expensive to run than gas furnaces. The cost of operating a gas furnace is about 63% cheaper than an electric furnace. Natural gas is cheaper than electricity, and gas furnaces may also be more powerful and energy-efficient. However, electric furnaces are ideal for small spaces, warmer climates, and homes without access to natural gas.
The cost of installing an electric furnace ranges from $1,700 to $19,100, depending on factors such as unit size, ductwork, complexity, and labor rates. Electric furnaces are generally cheaper and easier to install than gas furnaces, as they do not require additional venting and drainage.
