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Making Electric Heat Cheap!

Guest post by: The Osborne Group

Article Overview: A look inside the growing demand for electricity

Making Electric Heat Cheap!

Electric Heat Cheap - no way they say! Well here are some numbers that surprised me when helping a young entrepreneur develop his business plan to save homeowners with electric baseboard heat from the poor house. Ontario’s cost of electricity has doubled over the past 10 years and will continue to grow, particularly if nuclear energy’s share of the generation mix goes beyond 50%

Based on September 2011 unit cost of energy here is the top to bottom ranking of heating costs for a therm or 100,000 BTU’s by energy and technology.

ENERGY / TECHNOLOGY	UNIT COST OF ENERGY	COST PER THERM + HST	EFFICIENCY
Natural Gas – Forced Air	$0.32 per cu. m.	$0.97	90%
Electric – Mini Split Ductless Heat Pump – - Residents Rate - Seasonal Rate	$0.15 per kWh $0.19 per kWh	$1.60 $2.02	275% 275%
Heating Oil – Forced Air	$1.08 per litre	$3.28	90%
Propane – Forced Air	$0.80 per litre	$3.63	90%
Electric Baseboard Heaters - Residents Rate - Seasonal Rate	$0.15 per kWh $0.19 per kWh	$4.40 $5.57	100% 100%

Technology comes to the rescue and does make electricity with current technology a good heating alternative if your home does not have ducts and/or access to a natural gas line!

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Article Tags: bob fisher, electricity, energy, nuclear energy, ontario, osborne group, technology



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