According to the Energy Information Administration in Washington, DC, homeowners who use liquid fuels (heating oil, kerosene and propane) as well as homeowners who heat with electricity can spend as much as four times more than those who heat with natural gas. Boston homeowners who use these fuels really miss the opportunity to save on home heating costs!
Naturally, homeowners are wary of the cost of switching from fuel oil (or electricity) to natural gas, but MassSave offers a number of ways to reduce the initial cost of switching. In addition, by reducing the operating cost of a furnace or heater by as much as 75% per year, homeowners can realize the return on investment of switching in as little as two years!
Right now, Boston area homeowners can take advantage of rebates on the purchase and installation of high-efficiency furnaces and boilers through MassSave. The program provides rebates of up to $450 on qualifying warm-air furnaces, and rebates of up to $1,500 on qualifying forced hot-water boilers. In addition to these rebate programs, which will reduce the initial investment in new heating equipment, MassSave also offers a 0%, 7-year financing program to qualified homeowners.
The deal gets better for homeowners who itemize their federal taxes. Through December 31, 2013, homeowners may be able to claim tax credits of $150 on the purchase and installation of qualified natural gas furnaces and boilers. Qualified products include those with efficiency ratings of 95% or higher.
These programs reduce your initial investment in new home heating equipment, but year after year, the reduced operational costs during the heating season will really add up. The current price of natural gas makes it the most cost-effective way to heat a home. In addition, natural gas supplemental heating is also both highly efficient and cost-effective.
In comparison, the average cost of home heating oil right now in Massachusetts is about $3.80 per gallon, according to the Massachusetts Department of Energy Resources. While this price is slightly lower than the average price for a gallon of heating oil was at this time last year, the savings are not expected to make a significant difference in the cost of heating a home this winter.
As an added benefit, an oil-to-gas conversion can eliminate the health hazards associated with home heating oil. Home heating oil is toxic, and exposures can cause serious irritations and illnesses. An oil-to-gas conversion will also eliminate the risk of hazards related to oil spills in or around the home.
For more information about MassSave programs, oil-to-gas conversions, home heating tax credits and ways to save money on heating your Boston home this winter, contact us at Boston Standard Plumbing & Heating at (617) 288-2911. We can provide up-to-date information on programs, qualifying products and help you see how affordable switching from oil to natural gas heat can be.
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