Question:

Dear Mr. Wiseman, My husband and I live in a home that is 65 years old and is set up for oil heat and we also have a wood stove. Last year our heating prices went through the roof and we are anticipating that the coming winter will be even worse with the rising cost of oil. We hope to replace our existing heating system in the next few years, however, we anticipate that will cost more than we can budget for at the present time. That being said, for the coming winter we would like to take steps to offset the cost of oil with temporary fixes i.e. utilizing our wood stove more frequently and possibly purchasing an eco-friendly space heater(s) (if such a thing exists). Do you have any suggestions regarding (a) the type of system we should aim to install once we are able to do so with consideration for both the environment and budget; (b) what relatively low-cost steps we can take immediately to offset the costs of oil and conserve heat/produce heat in our home until we are able to effect a more permanent solution? Thank you for your help! Jacquie Fullerton

Answer:

Assuming you have an efficient wood stove, continue to use it. The source of wood may, or may not be an issue for you, as the price of cord wood is certainly climbing as well. Assuming gas is available, this is still the best in terms of capital cost and return. If gas is not available, a heat pump system is really the only way to go. This can be air or ground source, but again there is a very high capital cost on ground source and the return, frankly is questionable compared to a high efficiency air source. Have a close look at the Hallowell Acadia system. There is a potential to split the capital cost to some extent. The reality is that an electric furnace would be significantly less expensive to operate than oil. (the break even cost assuming 80% efficiency on the oil furnace is about $0.93/litre) If possible, you would do well to finance the heating conversion and start reaping the benefit now. Savings can be as high as 70%, which will offset the payment, possibly entirely. Unfortunately, there is no quick cheap fix. Glenn Wiseman, RASDT, RHDT

Answered By: Glenn Wiseman

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