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Potential Fuel Cost Savings with wood pellets
Firstly, the annual amount of currently used heating fuel must be determined. You may use your heating bills for that purpose. Then, you multiply the received amount by the middle price you pay per gallon. What you get is the year’s total heating bill. Later, you will see the difference between this and your potential wood pellet fuel bill.
x $
= $
Let’s suppose that your mean annual consumption of propane is 1,120 gallons and this amount is needed exceptionally for space heating. You buy propane at the price of $1.75 per gallon. So, $1,960 is your total average heating bill for this year.
Total Units
Price/Unit
Total Annual Fuel Bill
Secondly, using our previous example, you can estimate the annual amount of wood pellets required for space heating. One hundred seventy gallons of propane can be substituted by one ton of wood pellets. So, to heat the space with wood pellets for the entire year you will need 6.6 tons. Divide 1,120 gallons by the equivalent 170 gallons of propane per ton of wood pellets. The price of one ton amounts to $200 now and $1,320 is your heating bill using pellets. 6.6 multiplied by $200.
________ ÷ ________ = _______ x $ ________ = $ _______
Total Units Units/Ton Tons/Year Price/Ton Total Bill
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