In floor radiant heat vs. hot water base board
I recently bought a home built in 1960 which is heated by hot water base board heat. I am currently renovating the house and am looking at the possibility of installing in floor radiant hot water heat for the second floor. I would install this in the floor joists in the basement before I finish the ceiling in the basement. The house had a new high efficiency electric boiler installed in 2005 for the hot water baseboard heat.
I am wondering if installing hot water radiant heat would be more efficient on my electric bill every month. I live in Northern Manitoba where heating efficiency is important. We currently pay $0.061/KWH for electricity.
Another issue is that the seond floor has one inch tongue and groove board topped with a plywood subfloor with carpet on top of that (there is not underlay with the carpet). Would this be too much of a barrier to heat?
Any insight into this would be appreciated. Thanks.