Natural gas is not available to us.

Our residential heat (900 ft² mobile home) is a 20-year old pellet stove with occasional use of a space heater in the opposite end of the building. There is no evidence that it's on the way out, but it is 20 years old. We use 150-180 40lb bags of pellets to the tune of $1300-$1500 per year, plus the power used by the stove.

My shop (250 ft²) gets enough heat from occasional use of an external wood-fired rocket stove with heat exchanger for 3-season use. On colder days, I add in the overhead 750/1500 watt electric radiant heater so that I don't have to wait 3 hours for the shop to come up to temperature, but I try to not use the shop when it's colder than about -10C.

My analysis suggests that I can save at least $1000/year on pellets and eliminate the use of space heaters and rocket stove while also making it much easier to heat the shop when I need it. $1000/year (really, 6-7 months) goes a long way to making up the difference between current electrical use and expected electrical use.

And even if I've miscalculated, we can afford to pay a bit more to reduce wood use and resistive heating. One thing I've learned is that the best pellet stoves still put out more particulates than I'd like, and the rocket stove is worse. (Although the rocket stove is far better than the a campfire and people go through a lot more wood for their campfire than I use in the rocket stove.)