water heat - oil versus electric
 

On May 14, 12:20*am, Paul M. Eldridge
wrote:
On Tue, 13 May 2008 20:08:44 -0700 (PDT), Pauli G

wrote:
Our 10+ year old oil-fired water heater (Bock 32E) is acting buggy, so
we're getting it replaced. *My plumber is going to replace it with a
new Bock 32E, along with a new burner too. * I'm choking a little bit
on his estimate of $1800. * I know that oil-fired heaters are more
expensive to install, but it's a bit more than I was expecting. *Also,
the real question: *I'm having second thoughts about going the oil-
fired route again. * I live in Connecticut, and we do not have natural
gas available on my street, so that leaves me with the oil versus
electric question. * I've heard that electric is more expensive to
run, but with the recent runup in oil prices, I'm not sure if that
holds true anymore. *Is it worth it to pursue an electric water
heater, or should I stick with oil? Also, IF electric would be
cheaper, is it a huge deal to convert a former oil-fired heater area/
space to an electric water heater operation?

Hi Pauli,

Fuel oil is currently running in the $4.30 to $4.50 range (as I type
this, the Nymex heating oil futures price stands at $3.70 and retail
typically adds another $0.60 to $0.75). *In Ontario, residential fuel
oil now sells for as much as $1.36 a litre or $5.15 a gallon ($5.40
with tax).

Source:http://www.mjervin.com/WPPS_Public.htm

A conventional oil-fired water heater has an EF of about 0.55 whereas
a good quality electric unit can reach upwards of 0.95. *One gallon of
fuel oil contains roughly 139,000 BTUs and at an EF of 0.55 you net
76,450 BTUs or 22.4 kWh(e). *Dividing $4.50 a gallon by 22.4 tells us
the operating costs of an oil-fired water heater are similar to those
of an electric unit running at $0.20 per kWh.

Personally, I would go with a good quality electric unit for now and
swap it out for a GE hybrid model when they become available in late
2009/early 2010.

That makes a lot of sense. Buy a water heater now and then another
one in two years.



See:http://www.geconsumerproducts.com/pr...ses/appliances....

Video:http://www.geappliances.com/video_la...44&empid=4923&...

My sources tell me they will retail between $1,200.00 and $1,500.00,
roughly $1,000.00 more than the conventional alternative. *However, at
$0.16 per kWh (Connecticut's electricity rates are second only to
Hawaii), the payback would be less than three years (i.e., 2,500 kWh
savings @ $0.16/kWh = $400.00/year).

Cheers,
Paul

water heat - oil versus electric
 

On May 14, 11:16*am, Paul M. Eldridge
wrote:
On Wed, 14 May 2008 06:43:24 -0700 (PDT), wrote:
On May 14, 12:20*am, Paul M. Eldridge
wrote:
Personally, I would go with a good quality electric unit for now and
swap it out for a GE hybrid model when they become available in late
2009/early 2010.

That makes a lot of sense. * Buy a water heater now and then another
one in two years.

It makes perfect sense if the OP has to replace his tank now and can't
hold off for another two years. *As noted, Connecticut's electricity
rates are the second highest in North America and the payback on the
second install could be as little as three years and possibly less if
it qualifies for federal or state rebates/tax credits, low-interest
financing, utility incentives and the like.

Additionally, if their local utility leases electric water heaters and
the lease can be terminated at the end of two years without penalty,
then the OP's out-of-pocket expenses could be even less.



See:http://www.geconsumerproducts.com/pr...ses/appliances...

Video:http://www.geappliances.com/video_la...44&empid=4923&...

My sources tell me they will retail between $1,200.00 and $1,500.00,
roughly $1,000.00 more than the conventional alternative. *However, at
$0.16 per kWh (Connecticut's electricity rates are second only to
Hawaii), the payback would be less than three years (i.e., 2,500 kWh
savings @ $0.16/kWh = $400.00/year).

Cheers,
Paul- Hide quoted text -

- Show quoted text -