Heat Cost Comparisons
Many people want to know the operational costs of a particular heating system. The following should help you determine which heating system is right for you by using a fair comparison among heating options. These figures are based on product prices at the time this page was developed. Keep in mind that prices and efficiencies will change. You should be able to use the same formula and provide the variables specific to your situation (heating system efficiency, product price) to determine your costs.
This formula converts all heating options to a cost per Million British Thermal Units (MMBtu). The formula to determine the price per MMBtu is 1,000,000 Btu multiplied by the current price per unit of product (ton, cord, gallon, or kilowatt hour). This figure is then divided by the sum of the efficiency rating multiplied by the Btu produced by the unit of fuel. Examples are as follows:
| Coal Stove 75% Efficient | ||
|---|---|---|
| 1,000,000 Btu x $350/Ton | 350,000,000 | 17.95 price per MMBtu |
| .75 x 26,000,000 | 19,500,000 | |
| Wood Stove 60% Efficient | ||
| 1,000,000 Btu x $300/Cord | 300,000,000 | 22.73 price per MMBtu |
| .60 x 22,000,000* | 13,200,000 | |
| Pellet Stove 80% Efficient | ||
| 1,000,000 Btu x $350/Ton | 350,000,000 | 27.34 price per MMBtu |
| .80 x 16,000,400 | 12,800,320 | |
| Fuel Oil Burner 88% Efficient | ||
| 1,000,000 Btu’s x $3.00/Gal | 3,000,000 | 24.35 price per MMBtu |
| .88 x 140,000 | 123,200 | |
| Propane Burner 90% Efficient | ||
| 1,000,000 Btu x $2.50/Gal | 2,500,000 | 30.19 price per MMBtu |
| .90 x 92,000 | 82,800 | |
| Electric Ground Source Heat Pump 100% Efficient COP of 4.0 | ||
|---|---|---|
| 1,000,000 Btu x $.14**/kWh | 140,000 | 10.25 price per MMBtu |
| 4.0 x 3,413 | 13,652 | |
| Electric Air to Air Heat Pump 100% Efficient COP of 3.0*** | ||
| 1,000,000 Btu x $.14**/kWh | 140,000 | 13.67 price per MMBtu |
| 3.0 x 3,413 | 10,239 | |
| Electric Thermal Storage 100% Efficient (Off Peak Rate) | ||
| 1,000,000 Btu x $.082****/kWh | 82,000 | 24.026 price per MMBtu |
| 1.0 x 3413 | 3,413 | |
| Electric Resistance Heater (base board heaters or plug-in heaters) 100% Efficient | ||
| 1,000,000 Btu x $.14**/kWh | 140,000 | 41.01 price per MMBtu |
| 1.0 x 3413 | 3,413 | |
*BTU rating may be higher or lower depending on firewood used
**Claverack residential rate
***Air source heat pumps typically lose efficiency with lower temperatures
****Off peak rate for Time of Use participants
This information should help you determine your existing and potential heating costs by comparing various energy options. Product prices vary and you should check the current product prices to determine accurate operational costs of these various heating options. Remember that regardless of the type of heat you use, it is very important to have adequate insulation on floors, walls, and ceilings. Members choosing to invest in electric heat in their homes should consider equipment and installation costs, along with long-term operational costs. The best way to heat your home depends on your particular situation.
For further information on electric heating options, call your member services department at 1-800-326-9799 or 570-265-2167.