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In my state electricity is relatively cheap (~$0.10 per kWh) but gas is more like $0.01 per kWh equivalent energy yield. Given that the US (with fracking) is basically the Saudi Arabia of gas, it makes sense to bet on gas for the long run. Even with very efficient air source heat pumps (~300% efficiency) it still makes sense to go with gas heat, especially in a place that has many heating degree days.

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