Even with all of that, gas is still cheaper. I sat down and figured it out because we replaced our furnace last year.
The folks who benefit most from heat pumps are those that currently use propane or electric resistance heat. However, to qualify for those rebates you have to meet certain requirements on an audit which is often harder the older your home construction is.
Some Minnesota utilities do subsidize electricity prices if you heat with it. All utilities provide strong rebates for installing heat pumps.
Even with all of that, gas is still cheaper. I sat down and figured it out because we replaced our furnace last year.
The folks who benefit most from heat pumps are those that currently use propane or electric resistance heat. However, to qualify for those rebates you have to meet certain requirements on an audit which is often harder the older your home construction is.