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Heating Cost Formula
30. If I upgrade, how much will it cost, will I really save and is it worth it?
Okay let’s determine how much money a month you’ll save on your upgrade
Here’s the formula:
A is the seasonal efficiency of your new system
B is the seasonal efficiency of your current system
C is the current annual fuel cost.
This is what the formula looks like {(A-B)/A}*C.
Keep reading it’s actually really easy.
a.) If the new heating system you’re considering runs at a seasonal efficiency of 85%.
b.) And your current system runs at a seasonal efficiency of 60%.
c.) Plus, your existing annual fuel cost is about $1200.
According to the formula above s {(85–60)/85}*1200 = 354
You’re saving would be about $354.
Now you can work that $1200 down to the total amount of gallons you used and the cost per gallon and then multiply those gallons by the current or expected cost per gallon you may be paying in the future.
So if you’re expecting your heating costs to rise and your cost of oil will go up,( that should come as no surprise) you can still use that same formula to get what you need.
In summary, if you decide to buy a new system you need to check out all of the features. Look at its efficiency, its ratings, the AFUE number and don’t let the sales guy hoodwink you.
Good boiler-furnace-maintenance will save you lots of money. Here’s how…
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Stay warm, stay safe and save money
