When choosing the best electric furnace, be aware of these factors: Investing in an electric furnace means considering a number of elements to ensure you select the right heating unit for your home. The average monthly gas bill for American homeowners is $72.10, but could be more for those in colder climates. Companies may differ in how they price gas, as natural gas can be priced in units of dollars per therm, dollars per MMBtu (One Million British Thermal Unit), or dollars per cubic foot. One therm equals 100,000 BTU (British Thermal Unit) and Ccf refers to the volume of 100 cubic feet. Natural gas suppliers sell gas in therms or Ccf units. The cost to operate a gas furnace, however, is typically far less. If you live in a region where temperatures are naturally cooler and winters are more extreme, you can plan to pay more each month. Homes in America use an average of 877 kWh of electricity per month, creating an estimated monthly energy cost of $117. The average price a residential customer in the United States pays for electricity is 13.31 cents per kilowatt-hour (kWh). Compared to the cost of running a gas furnace, the cost of using an electric furnace is several times more expensive. electric furnace debate, one of the most significant considerations is the cost. An electric furnace can last up to 15 years, while the higher-end models can last over 20 years. gas furnace is that an electric furnace does not require ventilation, so the upfront costs are lower than that of a gas or oil furnace because there is no need for a flue pipe. You’ll also want an electrician to inspect whether your home’s main electrical system can support an electric furnace, especially if you own an older home. The electric furnace, however, will require more electricity. This means a gas furnace will typically use a regular wall outlet for power. A gas furnace only requires 115 volts at 5 to 10 amps. An electric furnace requires 240 volts of power, carrying 60 to 80 amps. Making the switch from a gas furnace to an electric model comes with a few benefits, but it will likely create a higher monthly energy bill.Īnother complication when switching from gas to electric heat is getting power to the new furnace. Home Advisor reveals that the average furnace replacement cost falls between $2,640 and $6,396, with the average cost landing at $4,512 for equipment and installation.Ī standard electric furnace can be priced anywhere between $700 and $3,000, while the installation cost can fall between $1,000 and $2,000.
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