Nights are getting cooler. Heating season is on the way. And folks across the Northeast and Upper Midwest who heat their homes with oil are facing significantly—painfully—higher prices this winter.
For example, according to NYSERDA prices for fuel oil in the state average $3.83 per gallon, a 33% increase over last year. In Maine, we see comparable prices. And the U.S. Energy Information Administration predicts the national average to rise further in October.
An 80 cent per gallon increase translates to an additional $800 dollars in heating costs for a home that burns 1,000 gallons per year. That’s a real dent in the family finances.
This highlights the risk in play home heating oil roulette. There’s huge volatility and uncertainty from unrest in the Middle East, natural disasters like hurricanes, market forces in India and China, or many more factors.
Homeowners are not helpless, though. You can make choices. You can’t control world energy prices. But you can make your home more efficient so that the price hikes don’t hobble you.
You know how. Start with a good assessment. Seal the leaks in your home and ducts. Improve your insulation. And look at more efficient equipment, windows, lighting, etc. We can help you figure out what makes the most sense for you and your home and tailor your project to take advantage of state and utility rebate and incentive programs. But you’ve got to pick up the phone and start the ball rolling. Or pick up your checkbook and send another payment to your fuel company or utility for the money you’re wasting.