Oil Heating, Good or Bad?
Insurance issues
Many insurance companies now balk at insuring homes with older fuel tanks, and some provinces have passed strict new regulations governing when the tanks must be replaced. The Insurance Bureau of Canada says that insurance claims from domestic oil tank leaks have increased by more than 50 per cent in the past ten years.
Fuel for thought
The Canadian Oil Heat Association (COHA) is working to change people’s opinion about fuel oil heating. Here are some of the ways they say oil heat has improved:
Ultra clean, near zero emissions– Modern, high efficiency furnaces and a reduction of sulphur in fuel oil means cleaner air indoors and out.
No-worry tanks– Tanks are now made of non-corrosive materials for longer life and safety.
Higher fuel efficiency– Today’s oil heat furnaces burn approximately 2500 litres per year, an improvement and savings of over 40 per cent compared to 30 years ago.
Long term savings– Adjusted for inflation, the price of oil heat hasn’t changed much since the 1950s. The cost of oil heat is also projected to rise at a lower rate than natural gas.
More hot water heat– Oil heat burns hotter and heats water up to twice as fast as natural gas and five times faster than electricity.
Safety– Oil heat is non-explosive. If exposed to a lit match the oil will not ignite.
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Posted by Mississauga Real Estate Guide writer LJ- Guest Blogger as Home Heating, Home Maintenance at 11:57 PM EDT