Do You Know the True Cost of Conversion?

Many homeowners and business owners are tempted by the so-called allure of “clean energy” that is electricity—but there’s a better alternative. Keep reading this blog post for a one-stop shop on all the information you need to decide on your energy source of choice because the solution you’re searching for may be closer than you think—it may already be operating in your basement in the form of a Bioheat® fuel furnace or boiler.

Electricity Puts Undue Stress on the Grid

Of the $12.86 billion in grid-modernization investment under consideration, regulators only approved $478.7 million during the quarter, according to the NC Clean Energy Technology Center.[i] Learn more on the Bioheat® fuel vs. electricity page here on our website.

Electricity Is Less Reliable than Stored Renewable Energy Options

Think about it: electricity is an on-demand energy option, not a stored energy source. Increased demand for the electric grid has been proven to cause widespread energy interruptions. The average American experienced just over eight hours of power outages in 2020[ii], with the overall duration of power interruptions in the US more than doubling since 2015[iii]. Alternatively, Bioheat® fuel is renewable energy stored directly on-site in your fuel tank. A 275-gallon tank of Bioheat® fuel contains 10,670 kilowatt hours of energy, which is ready and reliable to use when you turn on your heating equipment.

Do You Know the Real Cost of Conversion?

Converting a home to electric heating can cost up to $20,000, not accounting for the cost lost for those who have already invested in high-efficiency Bioheat® heating fuel systems.

The EIA is forecasting US residential electricity prices will average about $0.1475/kWh in 2022, up from $0.1372 in 2021 and $0.1316 in 2020. The average price of electricity could reach $0.1524/kWh in 2023. That would represent about a 3.3% increase—and EIA says prices are already 7.5% higher today than in 2021.

A recent study, Implications of Policy-Driven Residential Electrification[iv], concluded that policy-driven electrification would increase the average residential household energy-related costs by approximately 38% to 46%, resulting in an increase to the average affected residential household between $750 and $910 per year. Meanwhile, Bioheat® fuel remains consistently affordable in comparison and remains stable no matter how many people in the region are using it.

Don’t Be Left in the Dark

As policies and public interest shift toward renewable energy, we’re facing a potential issue with the supply of the electric grid and growing demand. With more and more people relying on electricity for transportation and heat on top of day-to-day power needs, some areas could start to experience power loss. Of the $12.86 billion in grid-modernization investment under consideration, regulators only approved $478.7 million, according to the North Carolina Clean Energy Technology Center[v].

Until the grid matures to accept the increased demand for electric vehicles and electric home comfort equipment, brownouts could happen. Bioheat® fuel, on the other hand, is not negatively affected by widespread implementation. It has the energy potential to support every home and business in the country at once, delivering widespread confidence and security.

The Primary Alternative

As a stored liquid heating fuel, Bioheat® fuel doesn’t contribute to added pressure on the electric grid. You’ll have access to safe, renewable heat, stored and ready on-site. Get in touch with your local provider for a delivery today.

[i] https://nccleantech.ncsu.edu/wp-content/uploads/2022/07/Q22022_gridmod_exec_final.pdf

[ii] https://www.eia.gov/todayinenergy/detail.php?id=50316

[iii] https://www.eia.gov/todayinenergy/detail.php?id=50316

[iv] https://www.aga.org/globalassets/research–insights/reports/aga_study_on_residential_electrification.pdf

[v] http://chrome-extension//efaidnbmnnnibpcajpcglclefindmkaj/https://nccleantech.ncsu.edu/wp-content/uploads/2022/07/Q22022_gridmod_exec_final.pdf

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