Heating oil going up 35 percent? Natural gas going up 50 percent? Have the prices and predictions got you wondering if it’s time to switch your source of home heating?
The grid below shows the relative cost to heat your home with seven different fuels, using market prices as of last Wednesday.
The final column shows the cost needed to create 1 million Btus of heat for each fuel. That number factors in the average efficiency of the burner used to heat each fuel source. For instance, it would cost about $16 to create 1 million Btus of heat from coal, after considering the average coal furnace is about 60 percent efficient.
Keep in mind:
• While coal is currently the least expensive form of heat compared in the chart, it is also by far the dirtiest and the most polluting. The headaches of handling the various fuels are obviously not factored in.
• The cost of natural gas is based on the summer rate. No winter rate was available. Last year, the winter rate was roughly 30 percent higher than the summer rate. If that were to occur this year, the relative cost to create 1 million Btus of heat using natural gas would rise from the $19.44 listed in the grid to $25.28.
• The wood cost is based on a cord of kiln-dried hardwood.
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