What is My Return on Investment?
To calculate your savings on an initial waste oil heater, consider this:
- Average hours per year a heater operates is 1, 500
- Assume your current propane heater size is 200,000 BTU, and
- Assume your current propane cost is $2.25 gallons per hour.
- This means you consume 200,000 divided by 90,000 = 2.22 gallons of propane each hour.
- 2.22 gallons multiplied by $2.25 per gallon = $5.55 per hour to use propane
- At 1,500 hours of heater time a year multiplied by $5.55 per hour = $8,325 in propane costs.
In this calculation of heat savings, we used propane. Other traditional forms of heating fuels are similar, so you can expect to save big when you switch to waste oil heat. (See Model Estimated Chart Below)
500 12,500 Sq Feet (1160 Sq Meter)
350 8,750 Sq Feet (812 Sq Meter)
315 7,875 Sq Feet (732 Sq Meter)
245 6,125 Sq Feet (569 Sq Meter)
235 5,875 Sq Feet (546 Sq Meter)
200 5,000 Sq Feet (465 Sq Meter)
155 3,875 Sq Feet (360 Sq Meter)
Do You Have Access to Used Oil for Free or Little Cost?
If you have used oil or have been offered cash for waste oil, you have incredible heat savings and fuel source available to you. Firelake heaters cost less than one heating season of propane, which has been determined to cost around $8,325!
You can recuperate your initial investment in less than one year, and save $8,325 each year thereafter.
Energy Tax Credits Save Even More!
Bottomline? If you are not using Firelake heaters, you are burning cash!
If you have concerns or want a personal calculation done, just locate a dealer closest to you and give them a call.