The cooktop is where the magic happens. Finding the long term cost efficient option should be the main consideration as energy used for cooking consists as a large portion of your energy bills. If you love cook, finding a cooktop that can heat quickly and precisely will also be important.
Electric cooktops work by running electric current through conductive metal which then converts into heat energy. It is safer than gas cooktops as there is no risk of a gas leak and there are no open flames to cause house fires. However they are slow to heat and slow to cool, inconvenient for frequent use. It is the most cost effective option for couples and those who more often eat out. Well suited to apartments.
Gas also tends to be an cheaper source of energy than electric stoves in the long run. Although costlier to set up, it is more cost efficient in the long run for frequent usage. Cookware is heated much faster compared to electric cooktops. Gas must be turned off after every use to avoid leakage. Surface needs to be cleaned often so that the ignition spark can work reliably. Gas can usually only be installed in houses and not available in units or apartments.
A large percentage of energy is lost in electric and gas cooktops as heat cannot be completely transferred from the heating element to the cookware. Induction cooktops are much more efficient. Magnetic coils induce a changing magnetic field that interacts with the metal inside the cookware, generating electrical resistance which releases into heat. As almost no energy is lost in the process, the cookware heats much faster and to a more precise degree. As all surfaces apart from the cookware are not heated and is cool enough to touch. It is the most expensive option, but a must have for cooking enthusiasts.