Bought my pellet stove last summer for a number of reasons. I was tired of the mess, splitting, stacking, splinters, burned hands, bugs, loading wood every couple of hours, not being able to burn when I wasn't home, etc, of the wood stove I had. Add to that the cost of HHO in my area last summer ( I paid $4.19/gal).
I had already installed a 12kv Generac generator that runs almost the whole house during an outage, so I was covered there already too.
So I sold my 15+ year old Elmira Stoveworks stove for $500, and bought a "gently used" dealer showroom model 2005 Astoria Bay that obviously had "low mileage" for $1500
delivered, so I actually paid $1000 for an almost new large stove.....not too bad.
I did the install myself, so I saved at least another $500 or more there. And after my initial "sticker shock" of 3 tons of $299/ton NEWP, I went on a search for cheaper pellets. Found 2 more tons of Lignetics hardwood at $239/ton, and I was ready for the winter as of 9/1/'08.
Yes, oil is pretty cheap here now (for MY area...about $2.50/gal), but even with that price, my pellets would have to cost me MORE than $300/ton to be more expensive.....I just had 4 tons of CleanFires delivered today at $259/ton + delivery = $278. Now I can be on the lookout for
REALLY cheap pellets from now until the next heating season.
As many have said on this forum before, it's all about having options. If oil goes below about $2.25/gal in my area, then I'll be burning oil.....whatever is cheaper......ahhhhhhhh, options.....their a great thing to have.