1. Welcome Hearth.com Guests and Visitors - Please enjoy our forums!
    Hearth.com GOLD Sponsors who help bring the site content to you:
    Hearthstone Soapstone and Cast-Iron stoves( Wood, Gas or Pellet Stoves and Inserts)
    Caluwe - Passion for Fire and Water ( Pellet and Wood Hydronic and Space Heating)

oil use for the year. payback?

Post in 'The Pellet Mill - Pellet and Multifuel Stoves' started by zrtmatos, Dec 6, 2013.

  1. zrtmatos

    zrtmatos Member

    Joined:
    Nov 26, 2012
    Messages:
    223
    Loc:
    Connecticut
    So I was comparing oil consumption from last year to this one and have figured I am paying about $1100 for a winters use. I am on target with having spent $700 so far this year.
    So if spent $1000 for a 5 year old stove and another $1000 in pellets how long before I get ahead on this?
    My guess is 3 years if I would have been using oil only. A similiar home spends about $2500 a year on oil.
    Anyone have a theory of what my payback time actually is?

    Helpful Sponsor Ads!





  2. john193

    john193 Minister of Fire

    Joined:
    Jan 11, 2010
    Messages:
    910
    Loc:
    Southeast PA
    I'm working this out for you, but how much do you spend in pellets each year? $1000?
  3. john193

    john193 Minister of Fire

    Joined:
    Jan 11, 2010
    Messages:
    910
    Loc:
    Southeast PA
    upload_2013-12-6_21-30-14.png


    Assuming you spend 1000/year on pellets this is how it breaks down. The first year, the stove cost you 1000, pellets 1000 and oil 1100. Which is where the 3100 comes from. From there on, you can look at the payback column and see that you will be in the red until year 3, where you will be ahead 200 dollars. Assuming all variables stay the same, you will net 400/year, so you are correct, three year payback.
  4. zrtmatos

    zrtmatos Member

    Joined:
    Nov 26, 2012
    Messages:
    223
    Loc:
    Connecticut
    Thanks John. You spelled it out a lot better than I could. I was hoping it would be less than 5 years so it was worth the investment in more heat.
  5. iceguy4

    iceguy4 Minister of Fire

    Joined:
    Nov 16, 2011
    Messages:
    1,051
    Loc:
    Upstate, NY
    That's not a bad payback! Plus I'm sure you keep the house warmer too.. I'm gonna need 5 years to break even (depending on what fuel calculator you use) based on 9 tons... I expect to need a ton or two to finish up the heating season (best guess) and that will shorten my payback
    My oil boiler has only been fired to "exercise", but is plumbed to come on if the pellet boiler cant keep up. Last year when I was only heating one building , it always kept up...but this year will be the test as I expect to have that building on this weekend!
    All of these number calculations don't factor in the feeling I get from ...I guess..."sticking it to the man" I purchased a wood furnace in '81, burned 7 full cords(cut ,trucked, split and stacked by me) ...All to save the cost of...get this ... natural gas!!! That deal I didn't calculate the payback...(more then likely beyond the end of Mayan calendar)LOL

Share This Page