Heating oil vs. electric heat [RE-wrenches]

[Todd Cory, Mt. Shasta Energy Services]

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Joel,

In 2005 I compared our just installed, air sourced electric heat pump 
(COP 3.1) with our kerosene fired "Monitor" brand heater. I used price 
per BTU when I figured the numbers, but only have the net costs to heat 
our home for a winter season. I just modified those numbers for today's 
electricity and kerosene prices:

At $3.41 per gallon of kerosene (11-13-2007 price - supposed to be going 
up again today), it would cost us $450.00 to heat our home for the 
winter with the kerosene monitor.

With .10/kWh electricity:
To heat our home for a season with resistance electric the cost is $486.00.
To heat our home for a season with a 2.0 COP heat pump the cost is $234.00
To heat our home for a season with a 3.0 COP heat pump the cost is $162.00

Conclusion:
Heating with resistance electric in our area only costs about 7% more 
than kerosene. ($486.00 vs $450.00). Heat pumps are BY FAR the cheapest 
BTU/$ heat source. As we all know non-renewable fuels will continue to 
go up in price so when asked, I suggest heat pumps (or even resistance 
electric) over fuel oil heating.

Todd


Joel Davidson wrote:

>
> Would a wrench in heating oil territory please tell me if it is 
> cheaper to heat with oil than electricity?
>
> I was told:
> 138,000 btu per gallon of fuel oil at $3.00 per gallon.
> 3,413 btu per kWh of electricity at $0.11 per kWh.
> Efficiency of oil = 78%
> Efficiency of electric furnace = 95%.
> Cost per 1,000,000 btu from oil = $27.73.
> Cost of 1,000,000 btu from electric furnace = $33.94. (18% more)
>
> Thanks in advance,
> Joel Davidson


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