I'm a little overwhelmed by all the options and variables involved in replacing my 14 year old EFM oil fired boiler with something that uses gas. I have a 2,000 sq. ft., poorly insulated, cape cod built in 1942 that has cast iron radiators. I live in south central PA and have been paying $500 per month for my oil heat and hot water. I've ordered gas.
I'm trying to calculate the 10 year cost for the following options:
1. A 95% high efficiency, wall hung "combi" boiler
2. Replacing the existing boiler and indirect hot water heater with new gas boiler and separate gas hot water heater (I'm assuming 85% efficiency).
3. Replacing the oil fired burner with a gas burner and keeping the existing boiler and indirect hot water heater (I'm assuming this will be 80% efficient)
My question is about how to convert efficiency into dollars. I realize there are variables like where I keep my thermostat set, the price of gas, etc. I'm roughly assuming that my monthly gas price will be half of what it is now (I WILL be raising my thermostat from 62 to 68). So, if my cost to run a high efficiency unit is $250 at 95% efficiency, what would the cost be for 85% and 80%?
Any thoughts or advice on the percentages I'm using or options I'm considering would be very much appreciated.
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