Earlier quoted context omitted.
A heat pump just makes no sense whatsoever for me in my northeast town. The electric bill alone would outpace the old propane bill, not to mention installation. And it won't even work during some of the coldest winter weeks when you _really_ need it to work. Maybe I would consider it if I was in, like, Nevada or somewhere.
I don't know what sort of heat pump systems are common in the US, but Sweden (and AFAIK Norway and Finland as well), are probably >%80 heat pump for single family homes (most apartments are community heating at least in the larger cities). So it's absolutely now problem to run a heat pump even if it is very cold outside, but if you want to improve efficiency in areas that are super cold you can drill into the ground…
For September, $12.31 of my $27.01 gas bill was variable based on my consumption.
In December, $84.82 out of my $99.65 total was consumption driven.
I've run numbers on whether it'd make financial sense to go electric for heating, and the break even point is in the 30-40 degree vicinity. With temperatures 20 and under a healthy chunk of the year, unfortunately the added expense doesn't make financial sense.