Gas no longer the cheapest way to heat your home
While you may have assumed keeping your home warm through a gas heater was the most economic way, a new report by the Melbourne Energy Institute has found otherwise. The study showed that residents could potentially reduce their heating costs by 70% if they switched from using a gas heater to a reverse cycle air conditioner on heating mode.
Tim Forcey, Energy Advisor at the Melbourne Energy Institute (MEI) used his own usage as an example of the savings that could be made, as his energy cost through gas was $4.80 on one day, compared to $1.50 the next through his air conditioner.
When studying the Eastern Australian gas market, the report found that residents are already reducing their gas consumption and tipped that gas demand will continue to decline, possibly falling to half of the peak by 2025. The reason gas prices are rising is due to factors like the high cost of producing coal seam gas.
Forcey explained that it should not be long before word gets out to the 4.4 million Australian homes that already have at least one reverse-cycle air conditioner.
According to Forcey other ways Aussies can reduce their energy bill include having an efficient heat pump to heat water, especially if you have excess self-generated solar electricity or adding an induction cooktop.