I need advice on what to replace my oil furnace with

Question

With the cost of oil going up to $1.22/litre ($4.61/us gal) I need to replace my oil furnace in the Montreal area. I've considered adding to my heating system for a 1200 sq ft bungalow a wood pellet stove (at $3700 installed and $4.25/bag) a bi-energy oil/electric furnace ($5500) and finally an electric furnace ($2800);note that Quebec has the lowest electricity rates in North America, but it is said that at -12 deg C, electricity is very expensive. I also have central-air attached to the furnace and my hot-water tank is oil-fired (brand new) and a new 700 litre oil tank. Has anyone else have a similar decision to make?

Answer 1

Do you have room for a loop to run a geothermal unit?

Answer 2

We went through a similar decision, but in sunny California where it gets to be 120 degrees in the summertime.  We insulated the walls, ceiling and put in double-paned windows.  The house is 2400 sq.ft. and naturally divided into three sections.  We stopped trying to cool the largest third and cut our electricity bill in half.  The thermostat is currently set at 84 degrees in my area and 76 in the room my Newfoundland dog lives in.

Do you have propane there?  There are some neat on-demand water heaters that eliminate the need to keep a reserve tank hot 24/7.  How about firewood?  If you have cheap access to it, like a friend with a lot full of trees and a chainsaw, go for a stove that will do pellets and wood.

We are going solar electric, but that may not be an option there.