Will my annual energy costs be lower than for a similar dual-fuel home?

An all-electric home’s energy costs will be slightly lower or the same as a dual fuel home. Natural gas prices are likely to remain relatively high compared to the previous five years. SWEEP’s analysis shows that with 2021 gas prices, the costs of operating an efficient heat pump and heat pump water heater will be about 5-10% more than those of their gas counterparts, but this slightly increased cost is off-set because the all electric home will have no monthly gas fixed charges.