The cost of running an electric furnace varies depending on size of home, the type of furnace, cost of electricity and weather conditions. Generally, an electric furnace runs from 10 to 50 kilowatts of power. A home approximately 2,000 square feet averages about 18,000 kilowatts for heating purposes.
Electricity is a more expensive way of heating a home compared to natural gas. However, it is inexpensive to have electric furnaces installed and setup. Moreover, safety is not an issue as there are no pipes carrying natural gas into the home.
A simple way to reduce the heating costs in any home are to turn the temperature down by a few degrees, especially during colder months, and turning heat off completely during hotter months. Another suggestion is to layer up on clothing to keep warm while temperatures outside dip. Tracking energy consumption in the home can be an important step to saving dollars.
Other ideas to saving money on electricity bills include only heating parts of the home that are in use, properly insulating a home so that heat does not escape, turning off appliances when not in use and purchasing space heaters or radiant heaters to use in rooms that are frequently occupied.