Tuesday, 25 February 2014

Propane, Now an Expensive Way to Heat Your Home

There is now a propane crisis in rural Ontario that has become so serious that the Federal Government has called for an investigation.

Propane has been in short supply this year and selling at premium prices. Customers without fixed price contracts have been paying $1.18 per litre this January 2014, up from $.70 per litre in the Fall of 2013.

If you are using propane, approximately 65% of it is being used for heating your home. 22% goes for hot water and about 13% for cooking. These numbers will vary with the size and age of your home. The size of your family may also change these numbers.

As recently as five years ago, Propane was amongst the most economical ways to heat. Equipment costs were also very reasonable, because propane furnaces are almost identical to natural gas furnaces, which are manufactured in large numbers. As a result, many rural properties in Ontario rely on propane.

Propane has now passed both Electric and Oil and is now the most expensive way to heat your home or business.

The answer to this growing problem is right in the ground on your property. A geothermal system can reduce your bills for heating, cooling and hot water by up to 70%. With a geothermal heat pump, you are protected by swings in market prices for commodities like propane, oil or natural gas.

The additional costs of installing geothermal are easily justified by the long-term savings. Many property owners will see savings that are large enough, so that the system will pay for itself. There are several financing options available, so that you can start enjoying the benefits of a geothermal system today.

Chad Hayter

The Hayter Group

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