Switching from Oil to Natural Gas or Electric?

[Hannah Costello]

Hello! I recently purchased a duplex in Reading PA. The top unit is electric baseboards, but the bottom unit is oil - hot water heat. I do not want to put the high costs of oil on the tenant and would like to convert to natural gas or electric ASAP. I was originally considering natural gas. There is an available gas line and UGI will hook up for free, I just cover the furnace install. However, the turn around time for this is up to 12 weeks, if it gets approved by the borough.. I would like to convert sooner than that to avoid the high oil heating costs that will come this winter. 

I am seriously considering heat pump/mini splits. I rented a unit before that had them and my electric bill was relatively low in the winter months. Then there's electric baseboard heat.. I am looking for the most cost efficient and timely option. I am willing to spend a little more if it means lower utility bills for my tenants. I have two estimates scheduled for this week, but if anyone has any idea of pricing for this please let me know! 

This is a 1 bedroom unit and is around 500-600 sq ft. And also, I have 2 100 amp panels - one for each unit, would this need to be upgraded? 

Thank you so much for your help (: