Over the last two decades, the cost of oil has risen year-on-year as much as 50%. In 2018, the International Energy Agency (IEA) warned that a looming supply crunch is likely to occur because of oil company supply and consumer demand, which the CEOs of Saudi Aramco, Total, and Eni agreed because of in-house project investments. With the rising costs of oil worldwide and the production supply decreases from major oil companies, it’s an ideal time to think about the financial benefits of heating system oil to gas conversions for your home or business.
- Socio-Economic Benefits
Oil is typically imported from other nations at the expense of consumers and the environment. Although Massachusetts has no natural gas reserve, residents gain access through regional pipelines in Everett and offshore via the Massachusetts Bay and then transported to natural gas companies for distribution. It is the reason why state prices for gas are lower than oil, and the consumer receives the savings from lower heating bills.
There is also a significant environmental impact of oil spills. The cost of cleaning up spills near or in ports is 5x more costly than those that occur offshore and 10x more when diesel and crude oils are present. BP alone spent fore than $61.6 billion to clean up its last oil spill as the damage extended to consumers, wildlife, plant life, and economic factors. Even then, a check couldn’t restore the environment as spills have lengthy consequences.
- Sustainability
Oil and gas companies have historically played critical roles in sustainable development. As noted by the IEA, oil and gas are not sustainable long-term as energy sources. When looking at factors like socio-economic conditioning, environmental concerns, and international political leveraging, regional access to gas for Massachusetts residents is more sustainable long-term than oil as it is not dependent on global purchasing powers.
- Appliance Versatility
Once a property has an established gas connection, home or business owners can connect it to a number of appliances, including HVAC, water heaters, stoves, washers, dryers, grills, or fireplaces. You also do not have to refill your tank, so operating costs are lower. While there is an upfront cost for heating system oil to gas conversions, those who pay for natural gas spend just over $1000 during winter while its over $2100 for heating oil. You will recoup installation costs in the first five years and then benefit from the savings.
*Call Us At (781) 521-2188 To Find Out How J Griffin Heating and
Plumbing Will Help You Lower Heating Bills And Eliminate Fuel Outages*
- Gas Is An Eco-Friendly Option
Natural gas is a more resourceful and cleaner fossil fuel than oil as it produces less greenhouse gas and pollution. When burned, it also manufactures between 15% and 45% less carbon dioxide than wood, oil, and coal (15, 30, and 45% respectively). It is also more eco-friendly as it produces water vapor, heat, CO2, and water upon its combustion.
- Reliability Factors
The EIA notes that U.S. consumers get natural gas from domestic production. Unlike with oil that comes from the east, Amerian consumers can rely on natural gas availability.
To take advantage of these benefits, please call us at (781) 521-2188. You can also contact us on Facebook here to find out how we will help you with your heating system oil to gas conversion.
