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modernhomeowner t1_j09ms4g wrote

Check to see exactly which gree you have. In Massachusetts, roughly half your heating load is for when the temperature is above 27°, half below. So if I look, the only Gree 24k I found that fits the 23seer, 10.5 HSPF is their multi+plus unit, which at 27° has a COP of 1.76 at full capacity. They don't list their partial capacities, assuming your home doesn't need the full BTU load, efficiency may be higher, something like 2.6 COP.

If we assume your oil boiler has poor efficiency, let's guess and say 65%, oil has a BTU of 90,000 adjusted for efficiency. divided by 3412 btu per kWh of electricity, divided by the COP (we're guessing at the 2.6 since we don't know the load or the efficiency of the gree at a lower capacity), times your electric rate of $.482, we get $4.89. Oil would have to be more than $4.89 per gallon to make you want to use your heat pump all year. Certainly below 27°, you'd want to use oil. Now, if your heat pump needs to pump out it's full capacity at 27°, the COP is 1.76, using that same formula above, Oil would have to be more than $7.22 a gallon for you to want to use electricity. So certainly, you'd want to use oil if your heat pump is operating at high speeds.

I should make note that when I say "you'd want to use oil" I mean from a financial standpoint - I always get one or two comments about environmental impact. And of course, I am only guessing at your oil boiler's efficiency, good ones are in the high 80's, you mentioned an old one, so I went with 65%, Same with the COP assuming your home doesn't need it's full 24,000 btu heating load, if it does, you'll be closer to that higher break even point for oil, meaning you'll want to be using oil, certainly with temperatures below around 30°. Check with gree and your specific unit to see if they have better numbers for you, and if you can get an energy meter on your unit to see how many kw your unit pulls to see how close to capacity it is running at any given point.

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SynbiosVyse t1_j09tw0m wrote

I think 65% efficiency for an old boiler is even a very low estimate. Boilers have been at least 80% for a very long time.

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modernhomeowner t1_j09uy5g wrote

Well, a higher efficiency makes oil an even cheaper proposition over electricity. The boiler itself may be rates at 80% but other system inefficiencies also take place, it only operates at maximum efficiency right after cleaning and gradually gets worse. I've pretty much calculated my system at 72% and that's with a 12 year old boiler. But if this person gets 72% or 80%, you can recalculate the math and it's going to result in higher equivalent oil prices, meaning you'd want to use oil even more often then electricity.

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SynbiosVyse t1_j09zlt1 wrote

Yeah I agree. I made a similar post a few days ago saying my gas boiler seemed more economical to run than my heat pump after some anecdotal testing and I got eaten alive.

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modernhomeowner t1_j0a09jp wrote

Gas as in Natural Gas? Yes, that's much cheaper if you have the same electric rate as the OP. Much cheaper! Assuming again a bad efficiency of 80%, a 2.6COP, natural gas would need to be under $4.35 a therm, which Eversource is $2.51. if you have a 92% efficiency, you'd be at $5 equivalent, so natural gas would be half the cost of the heat pump.

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Kspoonie t1_j0batjr wrote

OP has a System 2000 which is the only high efficiency oil boiler I know off. I’ve seen them upwards of 90%, even old ones. He’s probably better off getting a System 2000 Qualified technician to tune it up and run that. Pricey unit for sure.

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