Answer
It wil reduce the energy cost both in winter and summer.
Work Step by Step
Furnace: $p_f=\ 1.40/therm\times 1therm/29.3\ kWh\div 0.8=\ 0.060/kWh$
Since $p_f\lt p_e$, it wil reduce the energy cost both in winter and summer.
Thermodynamics: An Engineering Approach 8th Edition
by Cengel, Yunus; Boles, Michael
Published by
McGraw-Hill Education
ISBN 10:
0-07339-817-9
ISBN 13:
978-0-07339-817-4
Chapter 6 - The Second Law of Thermodynamics - Problems - Page 323: 6-136
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