Home |
Search |
Today's Posts |
|
Home Repair (alt.home.repair) For all homeowners and DIYers with many experienced tradesmen. Solve your toughest home fix-it problems. |
Reply |
|
LinkBack | Thread Tools | Display Modes |
#1
Posted to alt.home.repair
|
|||
|
|||
water heat - oil versus electric
On May 13, 11:20*pm, 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. 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 Judging by these numbers put in an electric now and keep the oil unit as a tempering tank and backup. |
Reply |
Thread Tools | Search this Thread |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Forum | |||
water heat - oil versus electric | Home Repair | |||
water heat - oil versus electric | Home Repair | |||
water heat - oil versus electric | Home Repair | |||
Kero versus propane versus natural gas for heat | Home Repair | |||
Heat pump versus oil versus propane in southern NH | Home Ownership |