Heating Cost Calculator
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The same winter of heat, priced three ways: heating oil, propane and an electric heat pump.
| System | Uses | Cost |
|---|---|---|
| Heating oil | 800 gal | $4,986.40 |
| Propane | 1,144 gal | $3,123.82 |
| Heat pump | 11,041 kWh | $1,987.39 |
How the estimate works
First the calculator works out how much heat your home needed: from the fuel you burned and how efficient your system is, or from your floor area and the heat-per-square-foot figure you set. Then it prices that same heat three ways. Fuel prices are the latest EIA weekly averages for the area you pick, before taxes; the electricity rate is yours to enter.
It leaves out equipment and installation costs, service plans, backup heat a heat pump may need in very cold weather, and tank rental. Treat the result as a comparison of running costs, not a quote.
Questions
Is heating oil or propane cheaper to heat with?
It depends on both prices and on how efficient each system is. A gallon of heating oil holds about 138,500 Btu and a gallon of propane about 91,452, so propane has to cost roughly two-thirds as much per gallon as oil to deliver the same heat at the same efficiency. The table above does that arithmetic with the prices you enter.
What efficiency should I enter?
Use the figure on the unit: about 80% for an older standard oil furnace or boiler and 85–90% for a modern one. A heat pump’s seasonal COP is usually between 2 and 3 in a cold climate; the default of 2.5 is an assumption to edit.
Does the result include taxes and delivery?
No. The fuel prices are EIA residential averages that exclude taxes, and delivery fees are not added. The electricity rate you enter should include the supply and delivery charges on your bill.
Why is a U.S. price filled in rather than my state’s?
Choose your area in the first box and the two fuel prices are replaced with that area’s EIA averages. Where EIA reports no price for a fuel in that area, the field keeps the previous number, so check it or type the quote you were given.