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Newsday newsday.com 23 Nov, 2021 18:00 am

Home heating prices are soaring, and we can't do much about it for now

Home heating prices are soaring, and we can't do much about it for now
This winter, it's about to get a lot more expensive for most Americans to heat their homes. The price of natural gas, which heats about half of all U.S. homes, has nearly doubled in the past year. And

But the price of electricity has remained largely stable over the past decade, especially in the Northeast, and homeowners can take advantage of that fact by insulating their homes and switching to efficient electric heat pumps.Heat pumps can save $500 a year in energy costs, and proper insulation ensures that the heat families pay for stays indoors where it belongs.This combination of weatherization plus heat pumps provides much needed stability amid massive fluctuations in the cost of propane and fuel oil.Heat pumps, for example, can pay for themselves in reduced energy bills.

States and local governments can potentially use these block grants for heat pumps and other home upgrades that will not only save energy dollars now, but will also protect Americans from future price shocks.Biden's larger Build Back Better agenda includes significant additional funding for home energy upgrades through the Hope for Homes Program and the High Efficiency Electric Home Rebate Program, which provide financial support for heat pumps and tax incentives, among other investments.

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