Savings Formula:
From: | To: |
Definition: This calculator estimates the potential savings when converting from oil heating to gas heating by comparing the costs of both fuel types.
Purpose: It helps homeowners and businesses evaluate the financial benefits of switching from oil to gas heating systems.
The calculator uses the formula:
Where:
Explanation: The simple subtraction shows how much you could save annually by switching to gas heating.
Details: Understanding potential savings helps make informed decisions about heating system upgrades and evaluate payback periods.
Tips: Enter your current annual oil heating costs and estimated gas heating costs (get quotes from providers). All values must be ≥ 0.
Q1: What costs should I include?
A: Include all fuel costs for a comparable period (typically annual). Don't include equipment costs here.
Q2: How do I estimate gas costs if I don't have gas yet?
A: Ask local providers for estimates based on your home's size and oil consumption.
Q3: Does this include conversion costs?
A: No, this only compares fuel costs. You'll need to factor in equipment and installation costs separately.
Q4: Are there other factors besides cost?
A: Yes, consider environmental impact, maintenance needs, and system longevity when deciding.
Q5: How accurate is this calculation?
A: It provides a basic comparison. Actual savings may vary based on usage patterns and price fluctuations.