The most optimistic hope is that the government mandate will force enough demand that manufacturers can enjoy some economies of scale and actually try to compete on price. I don't think this will happen anytime soon.
At that price, resistive heating cost about as much as what I paid for gas at my old house.
I went with a heat pump to hedge the bet. (I was also pointed away from geothermal.)
If the insulation wasn't as good, or electricity more expensive, I would have used a different heat source. I was looking at pellet furnaces at the time, but never seriously got into the research before the solar proposal came in.