Gas at $1.50/therm (Northeast or Pacific Northwest), 95% AFUE - Gas cost per BTU: $1.50 ÷ 95,000 = **$0.0000158/BTU** - Electricity at $0.13/kWh (Pacific Northwest hydropower), COP 2.5 - Heat pump cost per BTU: $0.13 ÷ (2.5 × 3,412) = **$0.0000152/BTU** - **Heat pump is slightly cheaper**, and the d