I am thinking about upgrading from oil fired hot water radiation heat to a new version of a elctric furnace ?

Question

i was wondering if the cost savings would be much of a difference,,like to hear from anubody who have done the same

Answer 1

Your question is not clear. Are you asking about replacing the boiler with an electric one or since you said "furnace" are you talking about putting in a whole new system of forced air electric? Are you in the US?

I assume you have no way to convert to gas. Gas currently costs about half that of electric but electric is two thirds to half of oil. (at $4.75 a gal )  So changing to a gas hot water boiler is the way to go if you could. I assume you can't. (US prices in the NW.)

Replacing the whole system to forced air is a major major cost and I doubt it would ever pay for itself even at half the operating cost. The only reason imo would be if you really needed and wanted to add air conditioning.

I like hot water heat. Forced air has its drawbacks, like dust and blowing air, vents taking up space, and restricting where you can put plants or furniture. Also it can be uneven with rooms at far end too cold unless designed well. Hot water may be slower but it is more even and more comfortable imo.

You can replace your oil boiler with an electric one. You could also leave the oil boiler in place and have an electric added on, plumbed in.

You could even use a couple standard electric water heaters plumbed in to supplement the existing, maybe do most of the heating if you set them right. That would be the cheapest. But those heaters not being designed specifically for that I would guess you would be changing elements in the heaters now and then.  

Going to electric heat might mean a new, higher ampherage, power service, including the line to the house. So that has to be factored in.

Good Luck.

fwiw, I converted to a gas boiler and I did some plumbing to create zones since my bedrooms are in one end of the house and I don't heat the other half at night. I cut my costs to about 1/4 at current oil prices.