Using last months gas and electric bills, I've calculated that at an average kWh for March 2010 costs
- $0.046/kWh from natural gas, and
- $0.176/kWh from the electric company.
I was thinking that it would cool to replace my existing furnace with a Solid Oxide Fuel Cell (SOFC) like the one based on Bloom Energy but the waste heat could be used to heat hot water in an indirect hot water heater, and provide base board hot water heat. The Bloom system appears to be 51.6% efficient so that would make the electricity costs around $0.092/kWh. The system would need to provide about 20 kW of output power.