What is your delivered price of electricity in cents/kw-hr?
Delivered price = generation + transmission + distribution + taxes.

What is your cost of oil?

Post the prices and someone will do the math.

You can keep your oil furnace as back-up heat to the heat pump. There's nothing wrong with that. It depends on your prices for electric and oil. There is a cost to remove your old oil furnace and tank. However, if you keep your existing oil furnace, you are somewhat limited in your heat pump SEER choice. Higher SEER heat pumps (14 SEER and greater) usually require variable speed fans to achieve the high SEER.

I have a new heat pump in an all electric home in Baltimore. We have similar climates. My heat pump works great and provides cheap heat (I think your rates are even better than mine - I pay 16 cents delivered). You should know that heat pumps produce 95 degree air, but your oil furnace probably makes 120F air. Some people notice the difference, especially if the air from the vents is blowing on them.

Take care.

Thanks Gary,

Electricity costs (~ total) = $6.00/kwh (Oct- May winter rate)
Today's Heating Oil = $2.87/gallon

I assume/hope the heating oil price should drift lower as recessionary pressures continue to hammer crude, not sure if electricity will drop in tandem (doubtful since they just got a rate hike approved last July). I took a chance last March and topped off the tank (285 gals) while cursing the $2.61/gal price at the time, glad I did. The oil man suggested waiting until June when he expected a lower price (it topped $3 by then).

I should add that we have a large SE facing windowed Florida room that greatly helps to heat up the house on sunny days and I would estimate that it shaves about 1/3 off the heating bill. Naturally it sucks on the AC bill in the summer but only in the early/mid morning hours before the sun's overhead angle increases. The people who added this room back in the 1980s had to know what they were doing since the winter sun (being lower in the sky) shines inside all day.

I appreciate your reply as I have until next april to decide and wanted to get a jump on the info. In fact, anyone else who just has an opinion on heat pumps in general is more than welcome to comment without all the oil vs ele stuff. Thanks!

I hope your rate isn't $6/kwh. If your rate was $0.06/kwh I think it would be the lowest in the country. From a financial standpoint the decision will be based on the electric rate.
From a subjective view it depends on if you don't feel like dealing with oil deliveries and having the furnace cleaned. But oil will provide a very warm air in the coldest of temperatures so that's worth something too.

vg

with electric rates like that, I would definitely go with high eff HP paired with matching var speed air handler and backup heat strips. get dealer to check your electric service/breaker box and see what amp capacity you have for the heat strips. it may need upgrading.

I am attaching link for fuel comparison calculator. the numbers will make you smile and your decision is really a nobrainer.

here are my specs for HP

15 SEER,12+ EER, 9 HSPF
matching var speed air handler
R-410a refrigerant
scroll compressor preferred
electronic demand defrost preferred
backup heat strips to be staged
thermostat control like Infinity/Evolution or HW VP IAQ that has dehumidify on demand feature

correct sizing is important and have ductwork inspected. if you have any hot/cold spots in your home, now is the time to address this problem.

IMO

Here is a link that might be useful: Fuel Comparison Calculator

Don't underestimate how much you might miss the warer air coming from the vents with a furnace vs a HP. We *just* had a dual fuel system installed yesterday after years of a gas furnace and this morning was the first time we woke to the HP. The air coming from the vents was COLD comapred to what we were used to and I had to switch over to the furnace to get that nice, warm feeling back. We have a vent in the bathroom and the kids like to get dressed over it - they were very upset at the colder air, too.

I just mmoved from NoVa where we had a heat pump. I absolutely hated it. I never felt warm and consequently was turning up the heat. The air would blow out at the temperature it was set at. I had moved from New England where we also had oil heat. I missed feeling warm. Our home was 2700 sq ft and our highest electric bill was $300 though that was more unusual than usual. Typically it was about $230.

vg

as anyone familiar with today's high eff HPs will readily admit, you don't get as high supply temps that comes from an oil or nat gas/propane furnaces. however depending on outside temp, you should get a supply temp in the low to mid 90s, less as temps drop below freezing. lower outside temps are compensated with backup/supplemental heat strips.

as far as Parson's experience on his new dual fuel system, I would have it checked to see if it is correctly charged which can affect the supply heat in heating mode.

and for travelingmama, I will readily admit that the supply temp on the older models was rather poor. not true with today's higher eff models. heat is heat. and if a HP maintains your thermostat setpoint, then you will save significant dollars over oil,propane, and even nat gas with your inexpensive electric rate. HPs work and are used all over the South and even in dual fuel applications in areas/climate that have harsher winters and reasonable electric rates.

IMO

Again, thanks guys for the info and site. My seasonal rate posted above was stated on the monthly bill but if I understand you correctly I need to divide my last monthly bill by the number of kWh used for that period :

$121.21 / 1096 kWh used = 0.11 cents
If so then no need to be too jealous ;)

I too understand that today's newer version of HPs are much more efficient and warmer, last month while at a buddies playing poker the terp outside was 45F and his heat pump was too warm for me (therm set up to 76F for cold natured granddad). But how it performs when 25-30F outside is another story and no doubt his ele back-up kicks in then.

When my oil man suggested oil back-up he named a "Kurr" (sp?) furnace brand that he says is very oil efficient. New Central AC will most likely be Carrier. You bring up good points about the duct size, these ducts were installed when the house was remodeled back in the late 80s and are well insulated, hopefully the sizes are right for HP. Right now we use 2 oil filled ele radiators in that Fla room at night to save on furnace oil, they do well and not too expensive on the ele bill, probably keep them no matter what route we take. Thanks again for you thoughts and help, have several months to put it all together. I'll save and review your kind advice above. Any particular HP brand you like, Carrier ok?

vg

get rid of the oil.

as far as brands/models, the following:

Carrier Performance 15 and sister model Bryant Preferred 15

Trane XL15i and sister model Am Standard Heritage 15

all with best matching var speed air handler

IMO

Thanks for posting that "Carrier Performance 15" model Tiger, I'll see if my oil company stocks that one and look into its specs. I do wish to break the oil habit.

I just replaced my oil heat with a Trane XL 16i heat pump, last week. All electic. I live in Central PA and have not gone through a whole winter yet. I replaced all of the ducts and outlets. It seems like a great system so far, the new heat pumps are very efficient and it heats up very fast without kicking in my electric strips. It heats very clean and quiet. I did a ton of research and this is the best system I found, other than geo, which wasn't cost effective with my 1200sf house. If I would have had access to Natural Gas, I would have done that for my alternate source, but it isn't available where I live.

for newholland,

I still believe the Trane XL15i(or sister mdl AmStd Heritage 15) is a better choice than Trane's XL16i HP. But the new "C" model XL16i is far superior to the older "B" mdl XL16i which I definitely would not recommend.

IMO

"$121.21 / 1096 kWh used = 0.11 cents
If so then no need to be too jealous ;)"

Still jealous at 11 cents per kw-hr. Good thing you did the math so you know your true rates.

With 11 cent electricity, 1 million btu's of back-up strip heat is $32.22. Oil was $25.81 at $2.87 per gallon. Heat pump is $9.91 at 35F. Oil is 20% cheaper than strip heat at these prices. I'm not arguing for oil, just laying the numbers out. I wouldn't replace an old oil furnace with a new oil furnace, especially with your low rates and 20F - 40F winter temps. Heat pumps work great in this temps, the question is the back-up heat.

I also haven't read any prices on removal of the old oil tank and furnace. Is your tank below ground?

Carrier/Bryant makes good heat pump systems that have solid SEER, EER, and HSPF numbers, as well as full btu's which is important.

You need to get some quotes on the system install to see what price range you're in. A heat gain/loss calc is crucial. The Florida room is letting a lot of outdoor air in. Tightening it up somehow will pay big dividends if you can do it.

Gary, it's an underground oil tank and less than 25' from my well head. That's another reason I want to get rid of oil. The tank was installed in the 1980s and it doesn't leak now but I still don't like the idea of it being there. I plan to get estimates soon but will empty the tank via use before switching over to HP in the Spring. Would rather fill the empty tank with sand if possible rather than dig up as it's located just a few inchs from the house foundation and has a bricked sidewalk over 1/2 of it. It would be a chore/mess to remove it for sure.

As for the Fla room, it's pretty air tight now, sealed her up good after buying home from the previous owner who didn't seem to mind it being drafty. Has Large rows of S & E facing wall of windows, by 8:30am the sun heats it up rather fast and the ceiling fans spread the solar heat throughout the rest of the house (2 story colonial farm house style, ~2100 sqft). No extra heating required until after 3:30-4pm as the sun slips away.
Will do homework on all advice given!

OK - you need to know code in you area for de-commissioning an oil tank that is below ground. It may have to be removed.

Good luck.