OK, so how much are you saving with Pellet Stoves?

I'm not so sure of the savings but I do have peace of mind knowing my winter stash is in the basement, paid for up front and I will be warm.

I agree with Sydney 1963. Currently not saving anything, but I have at least a seasons worth of heat in my garage, and can choose from at least three different sources of heat to keep my family comfortable.

I'm saving $200/mo. vs. LPG.

I don't have tons in reserve, but I can buy it a bag at a time if need be. The propane tank is full, but the furnace is off. It's good to have choices.

based on my math,
1 bag of pellets a day,
2 tons of pellets=$535
100 days at 2.85 a day

roughly 2.5 gal of oil a day,
at currently $2.39/gal= $ 5.97 per day
100 days at $597.5

I base my math on:

Oil furnace is 82% efficient
Pellet stove is assumed to be 70% efficient

Given what I paid for the pellets in my garage, my break even point is when oil is about $0.69/liter (fat chance of seeing that). However, even if I could get oil at that price, I would still burn the pellet stove, for a number of reasons.

Cheers


Kenny

rowerwet said:

based on my math,
1 bag of pellets a day,
2 tons of pellets=$535
100 days at 2.85 a day

roughly 2.5 gal of oil a day,
at currently $2.39/gal= $ 5.97 per day
100 days at $597.5

Click to expand...

Your math 2 tons of pellets=$535
Can you really buy a ton of pellets delivered to your home at $267.50, if you could that would equate to HHO@$2.28per gal.
I guess I'm suggesting you review your assumptions. Pellets cost most of us about $300@ton, and oil is currentlly about $2.00 @gal

itworks said:

Your math 2 tons of pellets=$535
Can you really buy a ton of pellets delivered to your home at $267.50...
I guess I'm suggesting you review your assumptions.
Pellets cost most of us about $300@ton, and oil is currentlly about $2.00 @gal

Click to expand...

You can get pellets for that and less if you pre-purchased as many of us do.

I paid $768 delivered for 3 tons of Cleanfire ordered the end of April 08.
My oil guy wants $2.34 a gallon as I type.

Not sure how much the savings will be until the heating
season is over but I am pleased that I have more than
one choice.

We did the math before purchasing a Napolean pellet stove- and thought we must be wrong..but math doesnt lie. Its true-Forest! its true! Our last winters bill was $2100.00- oil- log propane & space heaters. Two story-1500 sq. ft house with rock cellar. Not a large house by todays standards. We are down to roughly a more reasonable $1200.00 now-using all three. Only clicking on the oil-occassionally because its already paid for,for one thing & to keep the cellar ok. We'll use up the oil in the tank,then are not buying anymore, sorry OPEC..I can't front your new Cadillac next year!! You'll have to buy a Toyota Yaris!.. Its a more steady even heat-able to be comfortable at a lower temp than oil. Doing a massive insulation thing all around now in preparation of discontinuing-never to use oil again. If the oil furnace can't be changed over to pellet next year-for whatever reason- then it will be taken out of the cellar-as its a big dinosaur down there taking up precious space. There is now a small propane heater down there for the changeover-but we would like a wood/pellet stove.We have gone from 700 gallons to 500- to 150 this year-next year-0,,all in the space of 6 years. This week- we build our 1st "Solar Air Collector"- 3 more coming after that. As we live closer to the mill, we pick them up ourselves for $215.00/ton. The 1st ton lasted us a solid 2 months,now its colder,so will be a bit less. Our math tells us 3 ton per year-but will buy 4 just in case next year.I would much rather keep the crew at the local mill in a paycheck than oil tycoons in their Mercedes.We are so very glad we took the pellet plunge..and not looking back. Full steam ahead!!

Pellets were $225 a ton delivered (Bought stove at same time, so perhaps there will be a delivery fee next season).
Bought 4 tons.
$900 to heat the house this winter!

Oil Company that I've done business with since 1985 wanted me to lock in at $4.69 per gallon for oil this past summer.
Normal winter is 3 fill-ups averaging 250 gallons each time.
Would have spent approx $3517 this winter to heat the house at that price!

Current price in my area is $2.55.
Would have spent approx $1912 at the current price although I would have already had the tank filled once at an earlier, higher price.

I figure I'm saving a minimum of $1000 to heat my house this winter.
However...
Stove with pipe and installation was around $3200 so I won't "break even" for a few years if oil prices remain the same. If oil goes up, my "break even" point is shortened.

Also, if I have left over pellets this year, next year won't cost as much. I suppose I could buy 4 more ton anyway. I hear that is the fashionable thing to do around here! :lol:

Last year we were on a budget plan for 900 gal@$2.69/gal= $2421
This year we expected oil to be at $4.80/gal X 900 gal= $4320
That is when we ordered the stove.(Early June)

In August we had 100 gal delivered..... $450
In October we had another 100 gal delivery....$350

So....
$800 for 200 gal of liquid GOLD from the OPEC thieves!
$1256 for 4 tons of pellets delivered.
I think we will make it through the Winter on this.
Total cost= $2056

If we had stayed with oil this year.....
$800 for 200 gal + 700 gal X $2.66 GAL (Current Price??!!)
Total Cost= $2662

Appoximate savings if oil stays at $2.66 is $600
But, this is for cash sales with oil prices rising/falling.
Had we signed up for a budget plan it would have been based
on at least $4.00/gal and you have to sign a contract.
Some of the companies had insurance for an extra .35/gal.
Our monthly payment would have been at least $360/month!!

I would guess that OPEC's meetings will generate a price increase.
So the higher oil goes, the more I can say I have saved.
Also, think ahead to next year and beyond.
We should all be saving money(Varies by situation) and keeping the money here.

More important than anything . . . I'm saving my sanity by burning pellets. I'm all switched over to natural gas, brand new high efficiency NG condensing furnace and tankless Rinnai water heater. I've totally kicked the oil habit -- except for the automobile.

But you know what's burning? The Harman Accentra pellet stove! The heat is the best I've ever felt in this old house in 25 years of living here. Warms the ceramic tiles which used to be cold on the feelt.

Who knows, maybe I'm even savin' my soul along with my sanity by burning wood pellets.

Moe

Last full season with oil I used 850 gallons. I still use about 200 gallons for hot water year round. I created a spreadsheet so I could plug in various pellet & oil prices & determine the savings. For the 200 gallons I bought this year I paid an average price of $2.70 a gallon. Due to formatting restrictions I can't conveniently paste the spreadsheet into this post, but here is a summary of my actual numbers. The costs below are based on 650 gallons of oil for heat only.

I paid $5.48 a bag for pellets & an average of $2.70 per gallon for oil. Based on those as seasonal averages cost numbers:

Cost to heat with pellets: $1370.00
Cost to heat with oil: $1755.00

Note that we keep the house 2 -3 degrees warmer heating with pellets than we would if we were heating with oil.

For those regretting their pellet stove purchase, here are the numbers when you plug in $6.00 per bag for pellets & $4.00 per gallon for oil:

Cost to heat with pellets: $1500.00
Cost to heat with oil: $2600.00

Even if pellets go to $7.00 per bag, the cost for pellets is still only $1750.00.


Mark

dbjc364 said:

We did the math before purchasing a Napolean pellet stove- and thought we must be wrong..but math doesnt lie. Its true-Forest! its true! Our last winters bill was $2100.00- oil- log propane & space heaters. Two story-1500 sq. ft house with rock cellar. Not a large house by todays standards. We are down to roughly a more reasonable $1200.00 now-using all three.

Click to expand...

My numbers are about the same but I never ran my house at 73 degrees on natural gas. We used to run 62 day 58 night on nat gas and that was $2100 2 years ago. I'm figuring we would have been closer to $2500 at 72 degrees. The pellets are going to run us $1300 including the servicing of the stove and little bit of space heater use.

If we have moderate temp years the stove payoff will be somewhere are 3.5 - 4 yrs. If colder then faster/if warmer then slower.

The key is to buy in the spring at the lowest possible pellet/stove price. The next key is to time cleaning the stove to just before a sub zero blast to get maximum efficiency. (vacuum out after every ton)

rowerwet said:

based on my math,
1 bag of pellets a day,
2 tons of pellets=$535
100 days at 2.85 a day

roughly 2.5 gal of oil a day,
at currently $2.39/gal= $ 5.97 per day
100 days at $597.5

Click to expand...

Maybe I'm missing something here. If yo paid $535 for 2 tons (100 bags) that's 5.35 per bag. At one bag per day, that's $5.35 per day... How do you get the $2.85 day?

The key to realizing savings is to buying off season, both fuel and stove. When we relied on oil we always bought the first tank in the summer at the lowest price possible. The same principle applies to pellets, with the added advantage of being able to store much more, which hedges against future price increases. If you could buy every tank of oil for 2 years at the price of that first off season tank, things would be different. When we bought our stove it was at first thought to be nearly ten years before we'd reach break-even, but the increase in oil has far outstripped that of pellets, long term. If you look at it as a long term investment, you'll make out, but you must purchase wisely, not compulsively. If you buy a quality stove that will last, fuel that is reputably good, although there are unavoidable differences in batches, and buy at the right time you will do well.

I paid $270/ton delivered for pellets last June. Oil from my supplier is now $2.50/gal. I am still slightly ahead. :lol:

My view is that my savings are based upon sweat equity. I bought a low-end stove and installed it myself and have been able to get pellets for less than $200 per ton. My cash outlay/ payback with fuel oil @2.64/gal is about 3 years or @2.19/gal is 6 years. This places no value on the time hauling and stacking pellets, feeding and maintaining the stove. After three years (or 6 years) my cash savings will be the difference between the cost of pellets vs. the cost of fuel oil less any repair parts the stove may require.

I am using both, my nat. gas furnace, and my new pellet stove. I DEFINITELY like having the pellet stove going when I get home, the living room is nice and warm (cozy) On the sunny warm days, I dont start my stove, the furnace hardly kicks on anyways. I now have a back up system when my furnace breaks down, (and it will) but best for me is the "atmosphere" that is now created in my living room.

just did a calc with my oil tank and levels this morning, and im on track to save 600 gal of oil, but since i just got the stove itll even out till next yr in cost.

True numbers are very hard to get.
The reasons is simple - once people are "invested" in something, they tend to keep a bright outlook. Notice that no one is posting here saying they are going to be $1000 a year BEHIND because they bought a pellet stove! It's the placebo effect. Remember that even among "effective" drugs, the placebo effect "heals" almost as many people as the real drug does!

Yes, space heating (zone heating) does save over central heating, but that does not change if you use an oil, gas, wood or pellet (or even electric) space heater.

The only fair comparison in a general sense is BTU to BTU. That is why buying pellets at the lowest possible price is important.....or, for that matter, whatever fuel you use.

There is no magic and "it just feels right" is always hard to argue with. The really rough calculation is to just move some zeros......

$300 pellets = $3.00 oil, etc.....that leaves a little slop to amortize the stove...but just a little.

LP is being advertised for $1.50 around here - At 92,000 BTU per gallon, that still ends up being slightly more expensive than $250.00 pellets, but maybe not enough to pay for a stove and installation plus day to day labor and service.

As with anything else, "it depends". I always cringe a bit when folks get on here and tell us they save 75% compared to oil, etc. because figures like that are "fish tales". Maybe someone caught a big fish, but we aren't all going to!

Being a newbie, I've been reading this with interest!

I'm going to be WAY behind this year.........I spent approx. $2,000 on the stove and equipment necessary......but I knew that! My best friend who installed the stove, has had his for over 8 years, changed his water to electric, and has not had an oil delivery in 5 years. Those are the facts that sold me on this! In addition, I knew that this year was going to be a "loss" so to speak.

I didn't anticipate the price of oil dropping as it has, and I hope it continues to do so. My goal with this stove is to heat my house without putting the furnace on, and I'm not planning on analyzing the costs........at least for this year. As some of you said, the ambiance is wonderful, and for now, it's been a great challenge and fun to do! Yes, it's more work than I thought, and I'm sure I'm not using the right pellets--but there's still lots of time to learn!

And, finding this forum has been a tremendous help.........the information here is priceless to me.

I bought Pellets at $230.00 per ton. I heat with Kerosene and it is still $3.20 per gallon in my area...1 ton of pellets is about the same BTU's as 100 gallons of Kerosene...So you do the math:

$230.00 Vs $320.00

I burn about 600 gallons a year on average and that is hot water also..Kerosene will not go down much farther ( here anyway)
so I will save about $500.00 a year.....

I don't much care about what I paid for the stove... I just know our home is warmer..I like it..and you can't spend it when your dead...so.....
Pellets work for me.