What does lower cost-causation mean? I'm for good time of use... But retail rates concentrate all risk on the end customer. A wholesale signal can more accurately reflect grid values, and align incentives and manage riak through the market. It also enables project finance.
We CAN get zero emissions with heat pumps and we CAN NOT get zero emissions without them. So, they do sound like a silver bullet... We can afford a grid for GSHP, but can't afford a grid for ASHP. Thus, GSHP is all that "pencils out." Load reduction is nice but non-essential.
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That's not what silver bullet means. We also require solar, storage, and a bunch of other stuff to get to zero. There is no single silver bullet (that's what it means). Truly, this isn't zero sum!
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