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However, heating a home with a geothermal heat pump or a cold climate heat pump would be less expensive than using oil.At $4.67 a gallon for oil, it would cost the same to produce the same amount of heat using oil or electric baseboard heat.or example, a home that uses 800 gallons of oil for heating would use about 25,300 kilowatt-hours to produce the same amount of heat. Visit www.cmpco.com for a link to a more detailed spreadsheet from the Department of Energy to compare heating costs.
Labor costs vary by the job and location. Electric radiant floor heating costs about $6 per sq. ft. for materials but is often less expensive to install because of lower labor costs. Unfortunately, itâs far more costly to operate and therefore generally makes sense as a supplemental, not primary, heat source.s a starting point, materials and mechanical equipment for installing hydronic radiant heat in a 2000 sq. ft. home cost about $3,500 or $1.75 per sq. ft., according to the Radiant Floor Company. This excludes the heat source and assumes two zones (a 1000 sq. ft. basement and 1000 sq. ft. first floor).