Is It Worth Converting from Oil to Gas Heating in New Jersey?
Even though oil-burning heating systems are rare across the United States – only accounting for around 8% of installed home heating systems – they’re still relatively common here in the northeast. Around a third of homes in this area still use oil for their heating. This is partly because oil refining is common in the area, and also because many homes are older and were built before alternatives like gas or electricity were common.
For people in New Jersey still burning oil, this creates something of a quandary. Oil is expensive to procure – and getting more expensive every year – while also being bad for the environment. Yet converting from oil to gas heating in New Jersey is an expensive prospect. Is it worth the cost? Here are a few things to consider.
Understanding the Costs and Benefits of Converting from Oil to Gas Heating
So, let’s start with the bad news. If you want to install a new gas-burning heating system, it’s going to cost a few thousand dollars. At the minimum, the most basic type of gas heater will cost around $1,500, and that can go up to almost $5,000 if you opt for a high-efficiency model. Of course, the high-efficiency model will reduce your energy usage, lowering costs in the long run. (More on that in a moment.)
In addition, there will be installation costs and modifications to your home. A line will need to be run from a local gas line into your house, and chances are, you’ll need some upgrades to your chimney or ductwork as well. This will probably add another couple thousand to the bill.
Installing a new heating system isn’t cheap… but in the long run, it’s probably worth it.
The issue is the cost of oil. Or, rather, the rising cost of oil. As things stand, oil heating costs almost double what gas heating does. The average cost to heat a home with oil was around $1,700 a year. Doing the same job with gas averaged around $900. With a high-efficiency system, that number can go down even further.
So simply put, in an average home, converting from oil to gas should pay for itself in around five years. Within ten years, you’ll have saved thousands of dollars – and you’ll just keep saving. Not to mention helping the environment.
Get HVAC Solutions from Air Temp in New Jersey
Is now the right time to convert from oil to gas in New Jersey? To learn more, contact our team at AirTemp!