Why shouldn't I convert oil to gas?

Clifford

I'm really torn which way to go on this one.



I have incentives of $3k to replace an oil system in my home; it'll cost net $3k for a Buderus boiler.



I have incentives of $2k to convert to gas; it'll cost a net of $5.5k for a Burnham Alpine.



Historically the 30 year old boiler has used 550 gallons of fuel annually. Using calculators with oil at $3 gallon and gas at 1.35 therm we'll save about $600 annually by switching. That's a nice number to look at, but it will take almost 10 years for the cost of the systems to equalize, assuming fuel costs will rise at the same rate. So unless I'm missing something, it'll take 10 years before any financial benefit is realized, and I'll probably be retired in Florida before then.



Should I stay with oil, or convert to gas? Need to do one or the other ASAP.



Added: Any info on the $1500 tax credit being extended into next year?