daren

what area of country do you live?

my first thought is to chuck propane furnace altogether and get a high eff heat pump with var speed blower. you could keep the propane furnace and use it as a backup to a HP on those real cold days.

here is a fuel comparison calculator to help with your decision. I ran some numbers quickly and it looks like with cheap electric rates that electric baseboard is about half the cost of propane.

you will need to have your electric panel/service checked to see if any upgrade is required to handle electric strip backup.

I would call your utility and verify your electric rate including all add-on charges.

IMO

Here is a link that might be useful: Fuel Comparison Calculator

Recheck your electric rate. That is a VERY low rate, about 1/3 of current contract rates here in Houston. If its true, electric would be cheaper to operate and a HP far cheaper still.

I live in North Dakota, I'm going to buy a heat pump either way which will help in the spring and fall. I was wrong my kw per hour rate is about $.09.

lol