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Originally Posted by Belmont Resident
Are you also factoring in the cost of the stove and installation into the numbers? On many the savings doesn't start until after many years.
I'm with you, I burn wood here and in Maine but have also gotten hand me down stoves so I have no depreciation to factor in so for us it is all savings from the beginning.
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The payback time for ours was about 3 1/2 years if compared to using only oil, we are now starting the 5th year of using the stove.
There are other benefits for us. We enjoy the ambiance of the stove running in the living room. For the prior 25 years that was from burning 5 cord of wood a year however we got to the point of no longer enjoying stacking that much wood. Also getting an oil delivery up our driveway in winter is almost impossible so with the pellet stove working in conjunction with the oil burner we are good for the winter.
We still have a wood stove in the basement for those January two stove days.