I'm investigating the most efficient way to heat my new 2000 sq home in New Hampshire and am having some difficulty working out the math based on the numbers I have found.
I've found that wood is incredibly cheap...even if I buy it late in the season when the prices have gone up. I'm looking at $350 a cord for mixed hardwood, which I found can produce 22.1 mBTU.
I've also found an 89% efficient insert, increasing the cost savings per month to $116 for wood over oil. These savings are HUGE. If my numbers are right I'm jumping on the wood burning wagon immediately.
Going further down this rabbit hole, I've update the image with new specs for the heat pump, and I'm also wondering if those are correct. What I'm seeing is that a SEER 16 heat pump is 4.689 times more efficient than standard electrical heating, which means that a 48k btu 4 ton system can give me 16000 btus per kWh vs the standard 3412 btu/kWh of electric resistance heating.
Does that calculation make sense? Are heat pumps and wood inserts really that much better than oil? Can I really save 178 dollars a month by going with a 16 SEER heat pump?