Electric baseboards turn each kWh into 3,412 BTU of heat. A heat pump moves heat from outside instead, delivering roughly 2 to 3 times as much heat per kWh over a season: an HSPF2 of 8.5 averages about 8,500 BTU per kWh. The advantage shrinks in very cold weather, which is where cold-climate models matter.
The math
Seasonal heat-pump kWh = heating BTU × hours ÷ (HSPF2 × 1,000). Baseboard kWh = BTU × hours ÷ 3,412. Our running-cost calculator does both for any system we cover.
Systems with stated HSPF2
The DELLA Optima 12,000 BTU 230V lists 10 HSPF2. Many listings give only SEER2; ask the maker for HSPF2 before comparing heating costs.
Products mentioned

DELLA Optima 12,000 BTU 230V
12,000 BTU · 24 SEER2 · heats to -13°F

Senville LETO 12,000 BTU 115V
12,000 BTU · 20.8 SEER · heats to 5°F

Senville AURA 9,000 BTU 230V
9,000 BTU · 28 SEER · heats to -22°F