I am building a new home in a heating climate (Alaska), and I am curious which fuel is cheaper to heat my new home with. Electric rates are about .09/kwh and heating oil is about $3.00/gal. for the sake of figuringlets assume electric heat at 100% efficiency and oil at 94% Thanks all!
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I'm in Ohio, so i don't know much about the building practices there.
The one big mistake I do see in new home construction is, not spending the money to produce a good well insulated shell. If you build a good home to begin with there will not be as much cost difference between either system.
The area to save money on new construction is lighting fixtures, interior doors, and things that can be up graded later on. The money you save on your heating by having a good shell can help you add these upgrades latter.
I know this does not directly answer your question but it will help keep your question on the board and maybe someone closer to your area can give you more info.
This is taken from The Visual Handbook of Building and Remodeling by Charlie Wing, Rodale Press:
The only way to compare heating costs is comparing the cost per BTU of useful heat:
Cost per BTU = 100 x P / F X AFUE
F = BTU content of a unit of fuel
P = price per unit of fuel , $
AFUE = annual fuel unitlization effeciency , percent ( % )
Electricity 3,412 BTU per kwhr
Oil #2 residential 139,000 per gal ( US )
Take the figures, put in the formula and you can compare the cost per BTU and get your best bang for the buck. You can do this and compare with any heating source as long as you have the BTU per Unit and cost.
I personaly would go with electric for the efficency, less mainteance and better for the enviroment.
Environmentally I'd actually favor heating oil, unless you have hydroelectric.
If your view never changes you're following the wrong leader
I am speaking of Hydro electric, as Manitoba , Canada,my home , is a net exporter / supplier.
Oil, as we all know at the pumps , can be in high demand and very costly. 10 years from now, are we going to be able to burn oil for heating ????. I think the water will still flow over the dam ! and electricitly is more efficent and less maintence. My 2 cents CND. ( 2.5 U.S ! )
Heating oil produces 135,000-140,000 BTU per gallon (varies by precise chemical makeup, I suspect).
3412 BTU per KWH.
http://www.gi.alaska.edu/ScienceForum/ASF3/304.html