tonto said:
i go thru this every year and say im going to get a pellet stove.last year was crazy,the stove i wanted was on back order and wouldnt be in until late january.last winter would have been a good time to buy considering the oil prices.well here we are today,oil is 2.38/gallon and pellets $300/ton.with that said pellet cost per million btu is 22.87 and oil cost btu is 21.83 per million btu.right now costs less for oil.do i have to think that oil will go up once winter hits?just thinking that i would once again like to get a pellet stove and save a little $$.with mornings like yesterday where it was a bit chilly,i would have fired up a stove vs turning on the oil heat.wood is not an option for me.
any comments? thanks in advance
i'm in ct also.
I actually sat down and totaled up everything from 07-08 (just my oil heat) and 08-09 (pellet stove as my main heat source, oil boler for my hot water and a few zones in the house that the stove doesn't reach) and came up with my break even cost per gallon of oil. Average Temperature according to my electric bill was about the same... just a few degrees warmer in the 08-09 season.
My break-even price was 2.04 / gallon if i just used oil vs what i spent on oil + pellets for the season. So, as long as oil is more than that, its worth it to buy the stove.
You can't just go buy the btu factor alone. You need to factor in time as well. The oil furnace will only run twice an hour or so where as the stove will be on constantly.
I used a bag a day. thats roughly $5-6 5-6x30 = $150-180 /month. Most of my friends spent $400 a month on oil. I spent $400 on a tank once for the whole season. If you have electric/gas hot water, then you need to figure out your cost for that unit too.