Natural Gas vs. Electric Rate Comparison
Natural gas is affordable and has saved families like yours tens of millions of dollars in the past five years. Families that use natural gas to heat their homes, cook their meals and dry their clothes save on average $879 every year over those who use electricity. Why is that? Gas furnaces cost less to operate than heat pumps.
Tankless gas water heaters have energy efficiency as high as 97 percent and cost less than electric ones. As demand for energy has risen, natural gas usage per household has actually decreased. Said simply: increase your use of natural gas and you will increase the money in your pocket.
Low domestic natural gas prices have led to savings of almost $50 billion for customers who have used natural gas for heating, cooking and clothes drying over the past four years.
Source: American Gas Association.
To find out how much natural gas can save you on water heating alone, click the button below to see the facts:
The energy cost comparison was formulated on the cost per 100,000 BTU's output of a fuel type.
Utility Rate X Amount Required for 100,000 BTU's X Efficiency Factor = Cost per 100,000 BTU's.
The efficiency factor for electric is 100% and for natural gas appliances is 85%.
To calculate the efficiency factor: Example: 1 ÷ .85 = 1.176.
The costs are based on current local utility rates. 1/01/2021.