New oilheat technology can help you continue to save
Some people are under the impression that switching away from heating oil to another fuel will solve all of their energy concerns—including their overall heating expenses. But the reality is far different than the perception.
According to the Consumer Energy Council of America, it doesn’t make economic sense to switch fuels, and the better move is to upgrade to a new high-efficiency system of the same fuel. That’s because there are extra costs involved with conversion that homeowners won’t recoup quickly enough. And with today’s manageable heating oil prices, homeowners who switch today may never recoup the cost at all.
Heating oil price outlook
While heating oil prices are a little higher today than a few years ago when they hit a 13-year low, the Energy Information Administration is forecasting that we’ve reached a “new normal” in heating oil prices. Thanks to the increase in domestic supply coupled with the reduction in global demand for oil, oil prices are expected to stay stable for the foreseeable future. Read more.
There’s one other important consideration: energy efficiency. It’s important to know that energy efficiency is driven by the technology of the system, not the type of fuel in the home. An old system, no matter the fuel type, is going to be extremely inefficient compared to today’s equipment.
Modern, efficient oil heating systems in well-insulated homes can help homeowners achieve the same amount of warmth while using as much as 40% less fuel. This results in huge savings and reduces consumption considerably.
Keep this in mind if you are ever considering switching fuels. Oilheat systems are no different than any other outdated heating system, regardless of the fuel used. Old systems can generate higher-than-necessary fuel bills, but they can be easily replaced with equipment that incorporates today’s new oilheat technology.
And with the availability of equipment rebates, it is easier than ever to cut your fuel costs and save even more by upgrading to the best oilheating system available.
So if you are looking to save the most money and energy, your best bet is to upgrade to a new high-efficiency heating oil system. They could save 25, 30, even 40% on annual heating bills. Now that’s efficient!