Comparison of Residential Heating Costs: Which system is the most cost-effective this year?

The surge in international fuel prices and changes to "green" electricity tariffs are completely altering the landscape regarding heating operating costs. For a typical 100-square-meter apartment in Attica (with 5 hours of daily operation at 20°C and moderate insulation), a heat pump emerges as the most cost-effective solution, while heating oil represents the most expensive option. See a detailed breakdown of monthly costs by technology:

• Heat Pumps: €48/month (Consumption ~300 kWh, based on a "green" electricity tariff at 15.9 cents/kWh)

• Inverter Air Conditioners (3 units): €73/month (Consumption ~459 kWh)

• Natural Gas: €94.7/month (At a price of €0.096/kWh for 986 thermal kWh – more than triple the cost compared to last year)

• Conventional Air Conditioners (On/Off): €105/month (Consumption ~660 kWh)

• Electric Convector Heaters / Radiators: €143/month (Consumption ~900 kWh)

• Heating Oil: €144.3/month (At a price of €1.55/liter, even after accounting for 20-cent discounts)

💡 The Challenge of the Energy Transition:

Although heat pumps offer the lowest operating costs, their high initial installation cost (CAPEX)—often exceeding €9,500—makes the availability of subsidy programs essential. At the same time, the lack of adequate thermal insulation in older properties reduces the efficiency of the systems, highlighting the need for a comprehensive energy upgrade of the building envelope.