The best way to evaluate the economic impact of the heating alternatives available to you is with a side-by-side comparison. That's what you'll find in these two charts. The first chart shows how much you can save by switching to wood pellets. Multiply your current heating bills by the percentage to find your approximate savings. In the second chart, fuel costs for a typical American home in the "heating belt". The annual energy demand for heat and hot water for the home in this example is 110 million BTUs, net of system inefficiencies.You can see the savings are significant simply by changing fuels.
|EcoBoiler Pellet Boiler||#2 Heating Oil||Propane||Geothermal Heat Pump||Electric Heat|
|Energy Delivered (Btu) (1)||1,000,000||1,000,000||1,000,000||1,000,000||1,000,000|
|Price for Fuel (2)||$225/ton||$3.90/gallon||$3.40/gallon||$0.176/kWh||$0.176/kWh|
|Annualized efficiency (3)||82%||82%||90%||222%||100%|
|Fuel use per million BTU delivered (4)||153 lbs||8.8 gallons||12.1 gallons||132 kWh||293 kWh|
|"Typical" annual cost for fuel (5)||$1,950||$3,900||$5,677||$3,206||$7,116|
|Net Fuel cost per million BTU delivered (6)||$17.21||$34.32||$41.14||$23.23||$51.58|
|EcoBoiler Fuel Cost Savings||-||50%||58%||26%||67%|
Comparisons are made on a cost per unit of usable energy, in this case million BTUs (MMBtu). Multiply your fuel costs by the percentage of estimated fuel cost savings for a rough estimate of your cost savings at today's prices. Heating oil prices on the east coast have increased an average of 12.3% for 13 years running, while propane prices have increased an average of 9.2% over that time span.
For an evaluation of your situation, including equipment costs, plus installation and payback estimates, please contact EcoHeat Solutions.