A short answer, followed by the source guide and related questions.
Calculate the cost per unit of useful heat. Use the contracted electricity price, measured or manufacturer-supported efficiency, required temperature lift, operating hours, connection cost and demand charges. Do not compare fuel and electricity prices without conversion efficiency.
This answer is taken from Compare Alternative Heat Sources for Industry. Use the full guide for scope, assumptions and cited sources.
Use measured surface area, temperature and operating hours to calculate heat loss from boilers, kilns, heat exchangers, valves and pipework. Inzonex supplies removable modular insulation for equipment that requires maintenance access.
Do not add a calculated reduction to an emissions report until the reporting boundary, factor, implementation date and verification method have been approved.