Winter is coming, and many homeowners in the Framingham, MA, area are probably not looking forward to the expense of heating their homes. If you’re one of the households still using heating oil, perhaps it’s time to check into whether converting to natural gas heating would pay off financially. An experienced home service provider like Nicholson Plumbing, Heating & Air Conditioning can help advise you on the costs and benefits.
Natural gas costs
According to CommonWealth magazine, natural gas is historically and significantly cheaper as a heating source for homes in the Northeast:
The Energy Information Administration says a Northeast household consumes 850 to 1,200 gallons of heating oil in winter. In 2013-14 (the Polar Vortex winter), that oil cost $3.88/gallon. Thus, Northeast homes using oil spent about $3,298 to $4,656 on heating. A Northeast household using natural gas consumed 84.1 thousand cubic feet (Mcf) at $11.55/Mcf, for a total cost of just $971.
Cost vs. benefit
Converting to gas can mean cheaper, more reliable heating in the long run, but does it make financial sense for your household?
Estimates for the cost of converting to natural gas range from $3,500 to $10,000; however, there are ways to help offset the expense.
Massachusetts residents are eligible for rebates up to $1600 and interest-free financing for up to 7 years. In addition, the federal government offers a tax credit (30 percent of cost) for purchases that are certified to increase energy efficiency. There are also manufacturer rebates. Some natural gas providers will offer free service line installation if there is an existing gas main near your home.
How much can you save by converting to natural gas? Eversource provides a fuel cost comparison calculator to help give you an idea of the potential cost savings. You’ll also save money through lower maintenance costs.
Breaking even
Investing in an oil to gas conversation can pay off quickly. For example, if converting to gas will end up costing you $5,000, at a savings of $1,000 a year in heating costs, it will only take 5 years to recoup the expense. If you plan to live in your home for at least 10 more years, converting to gas definitely makes financial sense.
Heating Replacement and Repair Services
Our team of professionals are available to give you an estimate for the costs of converting from oil to gas heating. Our technicians offer innovative HVAC repair services in Natick, MA and other areas for gas furnaces and other heating systems. We offer a variety of HVAC solutions such as furnace installation, boiler replacement, duct cleaning, carbon monoxide testing, and furnace repair. To schedule a visit from our technicians or learn about our other services, call 508-301-1767 to receive support.