My average price during 2024, with taxes was DKK 0.88/kWh ($0.$12). This number is biased as it includes EV charging typically done at night where electricity prices are low, and the EV takes up about 40% of our electricity consumption. It is however the average price reported by my smart meter for 2024.
The average price for electricity with taxes was DKK 2.77 / kWh [1] ($0.39)
I spent 4600 kWh on the heat pump during 2024, so DKK 4048 ($562) without taxes and DKK 10.764 ($1497) with taxes.
I haven't checked my COP for 2024, but it's usually around 4, meaning I've gotten 18400 kWh worth of heat from those 4600 kWh electricity.
Natural gas has around 10 kWh worth of heat per m3, and assuming an optimistic efficiency of 90% for the gas burner, that is equivalent to 2044 m3 natural gas.
The average price of natural gas in the first 6 months of 2024 in Denmark was DKK 11.09 [1], so DKK 22.667,96 ($3.152,63) would be the price to produce the same heat with natural gas.
So even if paying the full price for electricity, I would still only be spending less than 50% for heating with the heat pump compared to natural gas.
The average price for electricity with taxes was DKK 2.77 / kWh [1] ($0.39)
I spent 4600 kWh on the heat pump during 2024, so DKK 4048 ($562) without taxes and DKK 10.764 ($1497) with taxes.
I haven't checked my COP for 2024, but it's usually around 4, meaning I've gotten 18400 kWh worth of heat from those 4600 kWh electricity.
Natural gas has around 10 kWh worth of heat per m3, and assuming an optimistic efficiency of 90% for the gas burner, that is equivalent to 2044 m3 natural gas.
The average price of natural gas in the first 6 months of 2024 in Denmark was DKK 11.09 [1], so DKK 22.667,96 ($3.152,63) would be the price to produce the same heat with natural gas.
So even if paying the full price for electricity, I would still only be spending less than 50% for heating with the heat pump compared to natural gas.
[1]: https://www.dst.dk/en/Statistik/emner/miljoe-og-energi/energ...