Gas is generally much the cheapest form of heating, but its cost depends on a number of factors, including your supplier, tariff and boiler.
Most Efficient Heating System: Geothermal Heat Pumps
Probably the cheapest way to heat your home, ground source heat pumps or geothermal heat pumps are less common than air source heat pumps, but provide among the most efficient heating system solution.
As a general rule, heating your home with a natural gas furnace is the cheapest way to keep warm through the winter months. Electricity is usually significantly more expensive than gas, so even the most efficient heaters will be a bigger drain on your pocketbook than a traditional furnace.
Propane is cheaper than electric: According to the U.S. Department of Energy, heating a home in the U.S. with a propane heating system in recent years has cost far less than heating with an electric system.
Which is the Cheapest Electric Heater? Infrared Heaters – the lowest wattage per heat provided makes these the cheapest to run. Oil-Filled Heaters – their long-lasting heat makes the most out of the electricity.
Heating oil: $2,526
Of all four fuels, oil is the most costly way to heat a home this winter, according to the EIA. Oil prices have risen so high that oil heat, once competitive with other major home-heating fuels, has become the most expensive to use. Prices are tied to world events, so they can change quickly.
So, is electric or gas heat cheaper? Using off-peak electricity, conventional electric heating may cost about twice as much as gas heating to run. And here's why: electric heaters are essentially 100% efficient.
Space heaters do use less energy as compared to using central heat. However, they are not as efficient as space heaters. As such, having a space heater in every room in the home and turning them all on at the same will only cost you more, not less.
Example (you can use an electric heater running cost calculator below for different wattages/kWh prices): If we assume the price of electricity is $0.1319 per kWh, a 1,500-watt electric space heater will cost; $0.20 to run per hour. $4.80 to run per 24 hours (day).
The heating element consumes as much electricity as that of any resistive heater when it's on, but thanks to the heat sink created by the oil, that isn't all the time. As a result, an oil heater uses less electricity in the long run than an exposed-element heater does under normal circumstances.
For preparing ahead of time, get a proper portable space heater or candle lantern instead. Summary: Four tealight candles got the exterior of a terracotta pot up to 270°F (132°C), while a single candle got it up to 127°F (53°C). It would take nearly 60 candles to effectively heat a 100-square-foot room.
Short version: To heat a room, you need 20 candles. According to research, the heating power of one candle is 80W. Therefore 20 candles are about the equivalent of one 1600W space heater. A candle heat source of 1600W combined is able to heat a room thoroughly.
A 500-gallon propane tank can last anywhere from 1 month and 23 days to 14 months and 4 days. For exact time, check the chart and graph for different sizes of homes further on. 500-gallon tank is a residential propane tank for houses. It can be installed underground, in the basement or even in a large garage.
A home with 2,500 square foot would need approximately 2.5 million BTUs per month, and heating costs would run about $95 per month. The same size home in a moderate climate would need approximately 5 million BTUs, and cost around $191 per month.
A 250-gallon propane tank lasts for anywhere between 26 days to 7 months and 2 days. That's quite a wide range. The longevity of a 250-gallon propane tank depends on use (how much propane per day you burn). This is indirectly connected with how big a house you want to heat with a 250-gallon propane tank.
Are electric radiators cheap to run? It's stated that electric radiators are 100 per cent efficient. This is because they use 100 per cent of the electricity provided to heat a room and so they are an energy-efficient way to heat your home.
Oil-filled heaters
Oil-filled radiators are cheap to run and there is no need to replace the oil. Prices for a good model start roughly at the £50 mark.
Therefore, I am now stating the obvious – On a standard tariff you would pay about 19 pence for 10 hours use of a 100 watt bulb, or 1.9 pence per hour.
So I did the research, and even made a free calculator. On average, a 1,500W heater costs around $0.20 per hour to run on high. This adds up to a cost of $1.60 for 8 hours a day, and $48 per month. The running costs depend on your electric heater's power, running time, heat settings, and your electricity price.