What is the cheapest heating source?

A heat pump is the most cost-effective option for home heating, but it is important for homeowners to ensure that the pump is installed correctly to ensure efficient heat production. Heat pumps utilize outside air to heat homes in the winter and cool homes in the summer.

During the colder months, heat pumps work by extracting outside air and transferring it inside the home. As the air travels through the pump, a heat-carrying refrigerant substance is compressed and released as heat into the home. A heat pump is highly energy-efficient, due to the fact that it transfers heat as opposed to generating heat.