Recent world events have created a challenging economic environment. Whether it's inflation, lack of product on store shelves, or otherwise, the past year has been proven to be a trying time for homeowners across the country.
Staying warm through the numbing cold winter months will be a constant need. But what if you could stabilize the cost of heating your home despite the rising costs of oil and electricity? We’ll tell you all about alternative heat sources in this post!
Oil and Electric Prices are on the Rise
Oil and electricity prices are higher than ever. In many areas throughout the country, gas prices are upwards of $5 per gallon. These exorbitant prices have left many people looking for oil heating alternatives.
If you’re looking to save money on home heating, look no further than a pellet stove. With a pellet stove as a secondary heat source, you'll avoid being at the mercy of a cost-fluctuating energy source so you can shield your pocketbook from a sudden cold snap and sustainably warm your home.
What are Some Oil Heating Alternatives?
While it’s common to heat your home using oil (or alternatively electricity), are there other alternative sources that can provide a cost-stable solution for you? The answer is “yes.” That’s right – Harman pellet stoves – which are free-standing stoves that burn wood pellets made of condensed, recycled biomass materials.
If you’re wondering what the differences are between heating with pellet versus oil, see below:
- Cost of the appliance (which we’ll elaborate on in the next section)
- Environmental impact
- Maintenance requirements and upkeep costs
Cost Savings with Pellet Stoves
There are various ways you save money when you switch to pellet stoves as a primary or secondary heating source.
- 1. You can buy the amount of heating fuel you need in advance, so you needn't worry about future fuel prices. You can purchase pellets in up to 40-pound bags, stock up for the whole season at once to ensure you will have a heat when you need it most.
- 2. Many regions of the country are seeing $5-per-gallon prices for home heating oil. On the other hand, today the average cost of pellets is around $300 per ton. Pellets would have to be over $500 per ton to equal the current cost of oil! You can stock up on wood pellets and still save money. To see exactly how much switching to a pellet heating source can save you, check out
- , which compares the cost of various energy sources.
- 3. On top of the price comparisons, switching to wood pellets as your primary heating source entitles you to a federal tax credit of 26%, which includes the cost of purchasing and installing a Harman tax-credit-eligible pellet stove
The ability to buy the amount of heating fuel you choose WHEN you choose, the cost savings per unit, and the federal tax credit, makes purchasing a pellet stove a wise financial decision that will leave you better prepared for whatever the winter season has in store, or anything the economy presents.
An Example of Pellet Fuel Cost Savings
Not convinced that a pellet stove is a good investment? Here’s an example to illustrate the cost savings of pellet fuel:
Say you live in a 2,000-square-foot home in New Hampshire paying $6.20/gallon for oil. If you purchase a pellet stove that is eligible for the tax credit (which covers a percentage of purchase and installation costs) you will get 26% back for a stove purchased in 2022, and 22% back for one purchased in 2023. So, if you were to buy a Harman P43 pellet stove this year at $4,000 plus $1,000 pipe/install, and $400 hearth pad for a total of $5,400, you’ll get $1,400 back once you complete your tax return!
To fuel the stove, you would pay approximately $300 for a ton of pellets. Compared to fuel oil, you will save over $3,000 in heating costs in an average winter for a total savings of $4,400 ($3,000 + $1,400). Over 80% of your investment is recouped in just the first year!
Ready to Make the Switch for Greater Cost Savings?
Are you ready to achieve greater energy savings with the alternative fuel source of none other than a pellet stove? Choose from a variety of Harman pellet stoves to match your home's decor and affordably serve as an important heat source in your home.
Installation can be completed in just a few hours, leaving you ready for any winter conditions that come your way. A Harman pellet stove gives you peace of mind knowing, no matter the fluctuations in oil and electricity, you can warm your home comfortably and affordably. Find a local Harman dealer to see available models.