A Boom Is Coming for All-Electric Homes Despite Lagging Consumer Awareness

By [email protected] Global revenue for home electric heating, cooling and cooking equipment could increase by more than five times by the end of the decade. The surge in spending on all-electric homes is expected even though many consumers are unfamiliar with the natural-gas-displacing electric appliances on the market today.

Around 70 million American homes burn natural gas, oil or propane for space and water heating, according to Navigant Research. But the fossil-fuel-burning furnaces, water heaters and stoves many Americans have long relied on now have competition in the form of electric air-source heat pumps, heat pump water heaters and induction cooking equipment.

“Electrification technologies

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