Does Switching Fuels Make Sense?
Many people mistakenly believe they’ll get a big payback if they give up on oil and convert to natural gas heating. But the mere cost to convert from oil to gas—typically thousands of dollars— could easily break the bank. So why gamble with switching fuels when heating your home with oil is one of the safest bets around?
Heating oil generates a much higher number of Btu’s of heat than natural gas. That’s why heating oil will warm your home more evenly. Your home will be among the warmest on the block every winter. That’s why oil heat is the ultimate comfort fuel!
There’s a reason the nonprofit Consumer Energy Council of America concluded that changing fuel sources does not make economic sense. In truth, the greatest pathway to saving energy and money is by upgrading to a new efficient oil furnace or oil boiler instead of switching from one fuel to another.
Efficiency equals savings
The key to saving money and energy is efficiency. And the path to achieving high efficiency is through new, modern system technology, not by picking another fuel. An old system, be it heating oil, natural gas or any other fuel source, will not be nearly as efficient as the new, higher-efficiency systems that are available in 2019.
Modern, efficient oil heat systems in well-insulated homes can help homeowners achieve the same amount of warmth while using as much as 40% less fuel. This results in huge savings and reduces consumption considerably.
Keep this in mind if you’re on the fence about switching fuels: oil heat systems are no different than any other outdated heating system, regardless of the fuel used. Old systems can generate higher-than-necessary fuel bills, but they can be easily replaced with equipment that incorporates today’s new oil heat technology.
Is heating oil itself still a good value?
Oil prices have been on a bit of a roller coaster ride with pricing over the past year. Early last fall, prices increased by more than 10%, but by Spring 2019, they had fallen by about 20%.
Because crude oil—which is refined into heating oil and many other fuels—is a globally traded commodity, many different forces can drive its value up or down. The geopolitical climate can have as much of an effect on prices as the actual climate.
Although the oil market will always rise and fall, heating oil remains an affordable source of home energy. If you look back at historical trends, you’ll find that yes, heating oil is a good value today. Adjusting for inflation, home heating oil costs much less than it did decades ago.
Plus, today’s clean-burning ultra-low sulfur heating oil leaves fewer deposits on heat exchangers, which prolongs the life of your equipment and reduces repair costs.