This may not work for everyone, but I got a zero interest loan from the state and installed four heat pumps. I use my oil furnace only as back up and thus far have burned less than 100 gallons of oil. I do keep the house cold as you do but I stay comfortable by wearing layers. The heat pumps are sophisticated and also serve as air conditioning in the summer. My electric bill has risen of course but it is a great relief not to have to buy oil for the winter