Did you save any money burning pellets this year?

[Tom Pencil]

Before installation of pellet stove we burned about 900 gal fuel oil/year. I normally fill my tank (1,000 gallon) but last year I bought only 250 gallons of oil at $3.97/gallon thinking price was going to $5.00/gal. It did go up but fell rapidly. Used 348 gallons. So 250 gallons x $3.97 + 98 gallons x $2.50 (what was still in tank from previous winter) = $1,237.50. Burned 5.25 tons of pellets at $179/ton and 10 bags x $4.99 and 2 bags x $5.99 for my total pellet cost at $1,001.63 + gas to haul(about $40)

Total heating bill for fuels were $1,237.5(oil) + 1,041.63(pellets) = $2,279.13
If I did not have my pellet stove oil alone would have been approximately 900 gallons x $3.97 = $3,573.00

Saved approx $1,293 + $90.50(for difference for taxes) = $1,383 by running pellet stove.
In Ohio Fuel oil and pellets are taxed. Where I live is 7%

Did not factor in electric and misc. Only the fuel costs.

 

[Titus]

+ amortization of the price you paid for the pellet stove and installation costs


Not knocking, just helping you get to the right number.

An economist would also talk about the opportunity cost of the time you spent cleaning the stove, filling the hopper, hauling pellets, and the money spent on the appliance. But, average joes don't worry about opportunity costs. ;-)

 

[newf lover]

Don't care that much how much I saved, even though it would be nice to save some $$$. Last 17 years, house kept at 60-62, froze my a** off, still spent a crapload on oil. This year, house was 72-75, spent $250/ton on pellets. Next year, $280/ ton for pellets which includes delivery. I will be warm again. Any money I save is an extra bonus.

 

[Dr_Drum]

If I did not have my pellet stove oil alone would have been approximately 900 gallons x $3.97 = $3,573.00

Why are you using $3.97 for the entire 900 gallons? Oil in Maine was as low as $1.56. Anyway, not including the price of the stove and venting, I saved a lot over the first tank of oil I bought at $3.70ish/gallon. After that I was losing money burning pellets, so I stopped and went back to oil.
Mike -

 

[Wet1]

If I did not have my pellet stove oil alone would have been approximately 900 gallons x $3.97 = $3,573.00

Why are you using $3.97 for the entire 900 gallons?
Mike -

Because that's how we calculate savings here in the pellet forum. Well, typically we use the highest price for oil we've ever heard of, or seen forecasted... $4.50 to $5.00 per gal. is a good price to use for oil estimating your savings over oil. Same holds true for the pellets, we like to use historic low prices for estimating our savings with pellets ($5.00 oil vs $175/ton of pellets).

We also like to even fudge our usage numbers, or maybe leave out some other key info. "I cost me $500 a month (for 6 months of the year) heating with oil." Yep, all 6 of those months had average temps in the single digits, and then miraculously it was 75+° the following 6 months. Or... "I used 1000 gal of oil last year, but this year I only used 2 tons off pellets and my house is now 5° warmer." Not mentioned is the the fact that only half the house is now being heated, only the one room the stove is in is actually 5° warmer, and 400 gal. of oil is still being used for DHW. Never mind the $4000+ cost for the stove, hearth, installation, maintenance, etc. But, I saved $2200 with pellets this year...

 

[mnkywrnch]

If I did not have my pellet stove oil alone would have been approximately 900 gallons x $3.97 = $3,573.00

Why are you using $3.97 for the entire 900 gallons?
Mike -

Because that's how we calculate savings here in the pellet forum. Well, typically we use the highest price for oil we've ever heard of, or seen forecasted... $4.50 to $5.00 per gal. is a good price to use for oil estimating your savings over oil. Same holds true for the pellets, we like to use historic low prices for estimating our savings with pellets ($5.00 oil vs $175/ton of pellets). We also like to even fudge our usage numbers, or maybe leave out some other key info. "I used 1000 gal of oil last year, but this year I only used 2 tons off pellets and my house is now 5° warmer." Not mentioned is the the fact that only half the house is now being heated, only the one room the stove is in is actually 5° warmer, and 400 gal. of oil is still being used for DHW. Never mind the $4000+ cost for the stove, hearth, installation, maintenance, etc. But, I saved $2200 with pellets this year...

I guess Im a realist at the time when I bought my stove the lock in price for oil was 4.69 a gallon I would have needed 800 gallons for the winter at a price of $3752 the cost of the stove with vent pipe was $3300 add another $1120 for 4 ton of pellets (which was not enough) plus another $200 for pellets by the bag for a total of $4620 so total cost wise I lost $868 even with oil that high fuel to fuel cost I saved $1432 but really in my eyes I lost.On the other hand I dont mind spending alittle more for pellets they heated my house much better.

 

[muss]

I guess i might've though not sure, saved a few bucks. The heat i got from the pellet stove did surpass my expectations even though i had a bad experience with the Athen pellets. I just loved the heat which made it upstairs which because of the vent set-up the oil didn't . I got used to cleaning out my stove daily & lugging in a bag of pellets everyday. This was my 2nd winter heating with a pellet stove. During the cold midwinter i ran it 24-7 but this coming winter, i will start with the oil in the morning for 15 minutes or so & then fire up the pellet stove. Then if it bodes well, i should really see a great savings but if that's not the case, i will keep the pellet stove going period. I like the heat that much. Kept it over 70 consistently . I deserve it . Muss Ps, Athens still hasn't delivered my final to they owe me ! Must have read my earlier posts. LOL

 

[MoeB]

If we're going to include in our cost analyses the cost of the pellet appliance(s), we must also include things like the cost of the oil tank and installation. The one I bought several years ago, after a near environmental emergency, cost me approximately $700 when all was said and done, dragging out the old one and whatnot. We must also include the service contracts on the oil burners. I used to have two oil burners -- a boiler in the office and an older-than-god forced hot air furnace in the house. For me, it was about $450+ for those two service contracts. Of course, the chimneys also cost a pretty penny to install and/or repair. To have one built 15 years ago cost over $2,000.

I have now switched to natural gas, which this year was less expensive than pellets. Still, one of my Harman Accentras (the one in the house) I still used because I love the heat it puts out and the ambiance in the rooms we spend the most time in.

I am oil free and will stay that way. No more nasty cleanings. When the oil service man came out of my two basements after cleaning the old oil-guzzlers, they were pretty oily looking.

I like having NG and pellets. I still have four tons of pellets left over from the season sitting in my garage for next year. If the price goes down, I'll replenish the supply.

Oh, when comparing the costs, let's also not forget to include all the repair costs (plus initial cost) of the oil furnace or boiler. It seemed that whatever needed fixing was not covered by the service contract I paid a fortune for over the years.

Natural gas is much cleaner -- unless we blow up or something, in which case I won't have to worry about it.

 

[krooser]

I have a used $1100.00 stove. The install was free (me). The vent kit was $150.00. I heat my house with pellets from October to April. Just about $700.00 this past season. I was spending over $300.00 per month in Dec/Jan/Feb for NG in prior years. That saved me lots of $$$... plus I could still sell my stove to recoup some of my $$$ if I chose.

And my house is now warm... 74F instead of 65F... big difference.

 

[Wet1]

Moe, I see your point, but I'm not sure I agree. In most areas a central heating system is required to get a CO, if not to get a mortgage from almost any lender, not to mention resale value of the house. The same is not true about an optional space heater such as a pellet stove. Like yourself, I converted from oil to NG, but other than testing the two new boilers, I've never used the new NG boilers since I installed them. I decided to use direct vent boilers so I don't have to worry about the chimney/flue with those systems. Since I do all my heating with wood and pellets, I don't really have to do anything to maintain my central heating system and maintenance cost should continue to be minimal with this central heating system since it's not being used. Regardless, the central heating system was pretty much mandatory, but I (we) elect to use space heaters, which is why a central heating system should not be added to the cost calculation and why any (supplemental) space heating methods should.

 

[Stentor]

If I did not have my pellet stove oil alone would have been approximately 900 gallons x $3.97 = $3,573.00

Why are you using $3.97 for the entire 900 gallons?
Mike -

Because that's how we calculate savings here in the pellet forum. Well, typically we use the highest price for oil we've ever heard of, or seen forecasted... $4.50 to $5.00 per gal. is a good price to use for oil estimating your savings over oil. Same holds true for the pellets, we like to use historic low prices for estimating our savings with pellets ($5.00 oil vs $175/ton of pellets).

We also like to even fudge our usage numbers, or maybe leave out some other key info. "I cost me $500 a month (for 6 months of the year) heating with oil." Yep, all 6 of those months had average temps in the single digits, and then miraculously it was 75+° the following 6 months. Or... "I used 1000 gal of oil last year, but this year I only used 2 tons off pellets and my house is now 5° warmer." Not mentioned is the the fact that only half the house is now being heated, only the one room the stove is in is actually 5° warmer, and 400 gal. of oil is still being used for DHW. Never mind the $4000+ cost for the stove, hearth, installation, maintenance, etc. But, I saved $2200 with pellets this year...

After reading this post a few times, I detect a hint of sarcasm.

But it might be interesting to break down answers in this thread to two questions: cost and value.

1. What is the dollar cost (for the year's fuel or for fuel and hardware over the projected life of the stove or for whatever) to heat with pellets? The main requirements for a good answer are to spell out the exact question. Then you display your formula and plug in the numbers. This could get complicated but not hard.

2. What is the perceived non-monetary value of the stove for you in your home? For example, is higher heat in one space or aesthetic satisfaction from a visible flame or ease of use important? (LOL, we'll talk about cognitive dissonance and self-fulfilling prophecies some other day!) This could get personal but not very open to dispute.

By structuring the way we frame the question and the answers, we'll get better understanding. (Of course better understanding does not mean youn get better results. Look at the Boston Red Sox.)

 

[Tom Pencil]

If I did not have my pellet stove oil alone would have been approximately 900 gallons x $3.97 = $3,573.00

Why are you using $3.97 for the entire 900 gallons? Oil in Maine was as low as $1.56. Anyway, not including the price of the stove and venting, I saved a lot over the first tank of oil I bought at $3.70ish/gallon. After that I was losing money burning pellets, so I stopped and went back to oil.
Mike -

$3.97 was what I paid for 250 gallons to get me thru till the next winter. Purchased this oil when oil was predicted to go to $5.00. Who knew it was going to drop like it did? I normally fill my 1,000 gallon tank in late summer when historically prices here are NORMALLY cheaper. Had I not had my pellet stove I would have purchased a complete fill up. So that is where I come up with the 900 gallons (normal usage before pellet stove). Last time oil in my area was $1.56 was in Aug. of 2004. Lowest price since was Feb. of 2009 at $1.90.

Yes my house does have colder rooms now than by just running my h20 boiler. Thermostat on boiler is two rooms away from P. stove and set at 64 at night and during the day till someone home then goes to 68. That was before and after P. stove. Now P. stove is set at 72 so largest room is the warmest but that room is where my family "hangs" out. Laundry room and mud room runs around low 60's but we don't hang out in those rooms. I do not see the need to heat rooms that don't need to be heated. I would guess overall average of temp in my house is the same with/without P. stove. My upstairs is a little colder than just running our h20 boiler. Once under blankets wife and I keep plenty warm.

My Hot water is electric. Want to change that when tank quits.

Installed Pellet stove myself cleaning and filling the hopper is just part of owning the stove. But did purchase a new Buderus Water Boiler in 2002 for $7,000 (labor included)+ with a annual service cleaning/check of about $200.

Did not fudge any numbers but next year might drop temp on thermostat on h20 boiler lower.

Did not see $5.00 oil here but did go to $4.17 then shortly tanked after that. Did pay $179/ton of Somersets for 5 tons last year.

Overall, I think the purchase of my pellet stove in Dec of 2004 has been well worth the comfort and savings.

 

[rowerwet]

Based on the lowest price I have seen for oil around here $1.89/gal (150 gal min.) and saying that I could get my prebuy set at that rate, 600 gal would cost me $1,134.
my pellets cost me $1,515 for six tons, so I lost $381 on my pellets this year.
Of course to buy the downside protection on my oil would add 7-12 cents per gallon so now the oil total is $1,176- $1,206, of the 600 gal I would use aprox 400 gal. or about $800 the rest of the money would go toward the cleaning $60/hr and next years prebuy.
The reason I got an OPB was to replace my 25+ yr old oil burner as it is on its last legs, I was quoted 8K to replace it or 5K to go to propane. This way I have the oil burner to back up my OPB and when oil does go up I will possibly see a savings.
The other savings I will have is in my propane bill, with propane at $3.37/gal I hope to save a good deal of money by heating my hot water with pellets this winter.
So I should actually save money on propane and oil by burning pellets, I'll have to dig up my old gas bills to compare monthly gas use once I only use it to dry and bake. (dryer and stove)

 

[BreckP23Newbie]

Before I Installed My Pellet Stove, I was averaging 90 - 125 gallons a month to heat my 2 story colonial and also heat my indirect fired water heater, NOW I am spending 28 - 45 gallons of Oil in the Dead Of winter, So Yes I am Saving A substantial Amount of money heating my house with pellets, The BIG PLUS Is Also With Oil Heat The house thermostat would be set at 65' on the first floor and 69' on the second floor. With the pellet stove the first floor is now 75 - 78 and the second floor is 73' just from the heat naturally rising. I just purchased 4 tons of barefoot pellets @ 259.00 ton $1036.00 , Compared to going through a boatload of oil deliveries which would be 800 gallons for the fall/winter/spring season @230.00 gallon if I time it right shopping around for the best price thru CODOIL.COM or my local vendors and I would say even at 259.00 a ton for pellets is still better, Yes I Wish I could have purchased pellets @ 189.00 ton but I dont think we will ever see those prices in the New York Hudson Valley Area ever again, IMHO.....

 

[Dr_Drum]

If I did not have my pellet stove oil alone would have been approximately 900 gallons x $3.97 = $3,573.00

Why are you using $3.97 for the entire 900 gallons?
Mike -

Because that's how we calculate savings here in the pellet forum. Well, typically we use the highest price for oil we've ever heard of, or seen forecasted... $4.50 to $5.00 per gal. is a good price to use for oil estimating your savings over oil. Same holds true for the pellets, we like to use historic low prices for estimating our savings with pellets ($5.00 oil vs $175/ton of pellets).

We also like to even fudge our usage numbers, or maybe leave out some other key info. "I cost me $500 a month (for 6 months of the year) heating with oil." Yep, all 6 of those months had average temps in the single digits, and then miraculously it was 75+° the following 6 months. Or... "I used 1000 gal of oil last year, but this year I only used 2 tons off pellets and my house is now 5° warmer." Not mentioned is the the fact that only half the house is now being heated, only the one room the stove is in is actually 5° warmer, and 400 gal. of oil is still being used for DHW. Never mind the $4000+ cost for the stove, hearth, installation, maintenance, etc. But, I saved $2200 with pellets this year...

Whatever helps people sleep at night . . . I suppose? :lol:
Mike -

 

[lessoil]

Wow!!
This question is back again and the pot gets stirred some more.
I will stir too!!

July to July
Winter months using auto thermostat. (Before Pellet Stove)
68 5:30AM to 7:30AM and 2:30PM to 11:30PM Mon-Fri
68 6:30AM to 11:30 PM Sat and Sun
All other times temp at 63

OIL ONLY
06-07 we burned 900 gal.
07-08 we burned 700 gal.
PELLET ONLY for heat oil for hot water
08-09 we burned 400 gal @ $3.00/gal cash price avg + 3.6 tons @ $314/ton
08-09 Oil Cost= $1200 and Pellet Cost=$1130
Total Cost of fuel only for 08-09= $2330

I think last Winter was cold like 06-07 so if we go with the 900 gal usage we saved $370
If you go with 800 gal we saved $70
If you go with 700 gal we spent $230 more.
***NOTE: Last Winter we had the 1st floor between 72 and 78 in order to keep the 2nd floor at 66-68.

This year we ordered/received 3 tons of New England Wood Pellets @ $274/ton=$822 delivered
I will add more insulation upstairs so should be good to go with 3 tons.

Now I am warmer and the money is staying in New England.

 

[travlnusa]

I saved $800 in total heating cost (over LP), but as another posted, I was able to keep the house much warmer over the winter with one of the colder Januarys' we had in awhile.

With LP lower than last year, I will contine to heat the basement with the small LP heater we have installed, but will continue to use the stove up to break even due to the better heat.

Our house is an old farm house and the duct work for the furnace is pretty poor as it has been squeezed in here and there along the way.

 

[BadDad320]

Burned 6 tons of pellets @ $150.00 / ton and 300 gallons of HHO. I will say that I did save some money and I my house was 74 degrees instead of 68....... Warmer for less $$$$..... Being a true "Pellet Pig" I now have 6 tons again ready for winter 2009 / 2010......

 

[mnkywrnch]

Burned 6 tons of pellets @ $150.00 / ton and 300 gallons of HHO. I will say that I did save some money and I my house was 74 degrees instead of 68....... Warmer for less $$$$..... Being a true "Pellet Pig" I now have 6 tons again ready for winter 2009 / 2010......

WOW $150 a ton thats a great price for your neck of the woods, if you dont mind what did you pay this year.

 

[Tom Pencil]

Wow!!
This question is back again and the pot gets stirred some more.
I will stir too!!

[/b]

Didnt' mean to stir any pot when I wrote this. Just thought it would be nice to see that people can possibly save money using pellet stoves.

Did figure if I use the same amount of pellets and oil as last year that I will end up losing $135 or so because of the drop in heating oil and increase in wood pellets compared to what I purchased last year.

 

[BadDad320]

OOPS! Make that $250.00 per ton ....... apologies......... And this year I paid $255.00 / ton for Treecycle Brand Pellets...

 

[alexdrozd]

I don't see anyone using degree days when comparing one years' worth of data to another. Why not? Wouldn't that make a difference?

 

[lessoil]

Wow!!
This question is back again and the pot gets stirred some more.
I will stir too!!

[/b]

Didnt' mean to stir any pot when I wrote this. Just thought it would be nice to see that people can possibly save money using pellet stoves.

Did figure if I use the same amount of pellets and oil as last year that I will end up losing $135 or so because of the drop in heating oil and increase in wood pellets compared to what I purchased last year.

Bantam,
No need to apologize!!
Sometimes when I answer this question the sarcasm runs rampant!!
Hasn't been too bad yet.
It is interesting to see how all of us made out last Winter. For us it was the first year with the stove.
Every time I try to figure it out I end up with a different result!
We bought 100 gal @ $4.50(Jul08); 100 gal @ $3.50(Sept08); 100 gal @ $2.20(Feb09) and the last 100 gal @ $1.82(Apr09)
It is now around $2.00/gal and rising...just like gas....Thieves!!

 

[Stentor]

I don't see anyone using degree days when comparing one years' worth of data to another. Why not? Wouldn't that make a difference?

Great point. But most people here don't seem to do year to year comparisons but comparisons of fuels within one year.

Might be interesting to start a thread on How to Measure Your Stove's Cost. That would take some work with people hammering out a more or less standard measure. It could get complicated partly because you would have to take into account BTU variations by wood pellet source. Then it would get truly tough if you go on to measure efficiency of various stove manufacturers' models.

I doubt if there is the motivation to that, unless there is some academic study or industry analysis. (And any industry analysis wouldn be too sensitive - - ar real hot potato!)

 

[Wet1]

I've done the calculations using heating degree days and found the difference from one year to the next is basically insignificant.

https://www.hearth.com/talk/threads/37220/