While heating costs for some are down thanks to plummeting oil prices, the cost to heat homes in the US with electric, natural gas and propane is set to jump by as much as 10% for winter 2024-25. Experts attribute this spike to electrical grid failures, rising gas prices, and an expected colder winter in regions like the Northeast and Midwest.
To find out how much you can save with a space heater, national averages suggest that if you're heating a large home with expensive oil, you could save hundreds, even up to $500. While actual savings can vary by factors such as regional energy prices and home size, space heaters present a potentially effective alternative.
When considering the cost to run a space heater, various factors come into play, including size, wattage, and the price of electricity in your area. Personal heaters can be acquired for as little as $20, whereas full-room models may cost upwards of $300, reflecting their heating capacity and area coverage.
It’s important to keep in mind that space heaters are not evaluated by the Environmental Protection Agency for energy efficiency. Consequently, you'll need to rely on the manufacturer's claims regarding their performance, as efficiency ratings can vary greatly between models.
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