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125 Unit Building w/ #6 Oil as primary fuel and Dual Fuel Burners
71,300 gallons of #6 @ $2.40 per gallon = $171,120.00
71,300 gallons of #6 = 99,820 therms of gas
99,820 therms of gas @ $1.20 per therm = $119,784.00
Difference between #6 oil and natural gas = $51,336.00
Cost of #6 oil to gas conversion project: $34,485.00
Payback: Less than 1 year based on savings resulting from conversion.
There is no reason NOT to explore alternative options to paying for this type of project when the savings are so real and concrete. This is why reducing the cost of a conversion project through the energy savings when arranged by a 3rd party needs to be strongly considered....it makes no sense unless there is absolutely no other way to get it done.
A dual fuel burner is the smartest choice when looking to ensure the value of the investment. Having dual fuel capacity allows for options...obviously having one or the other doesnt. Having dual fuel burning capacity still allows the use of one fuel; such as gas on a firm rate.
Too often boards and mangement companies are hesitant to accept gas, when available on a firm rate....they feel they are "locked in" with no options. If firm rate is available and eliminates any construction costs associated with a #6 to gas conversion project TAKE IT! If you opt for a TC rate when Firm is available you sacrifice all entitlements and are NOT eligible for any incentive/rebate programs from either utility company or NYSERDA. Take the gas on a Firm Rate, purchase if necessary a dual fuel burner and reap the benefits.
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Someone on a very intelligent coop board in the upper west 90's recently told me that, after much research, they decided a dual burner was the way to go.
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