[retiredguy123]

Originally Posted by MandoMan

Heat pumps used to be inefficient in colder climates, but the new ones work just fine and are much cheaper to run than propane heating systems, which I had to use for several decades. There are few places in the U.S. these days where I wouldn’t put in a high quality heat pump rather than an old fashioned heater. Most so-called heat pumps are also used for air conditioning. Even in states like Maine and North Dakota and Washington, air conditioning is often enjoyable. Here in The Villages, my heat pump is on 24/7, but even with the water heater, my electric bill is usually less than $100.

There are a lot of factors involved, including the cost of electricity vs the cost of natural gas where you live. Here is a Carrier link explaining some of the factors.

Heat Pump vs. Furnace | What Are the Pros & Cons | Carrier.