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Yes. In many cases, switching from an old furnace to a high-efficiency boiler can help you save money over time. You can also save money by switching from an electric boiler to a gas boiler, which costs much less compared to the energy bills an electric boil can create. Boilers are often (but not always) more efficient than furnaces, too. Then there are discounts, rebates, and incentives that can help you save on the initial costs.

You can save money on heating oil through a combination of improving home efficiency and smart purchasing strategies.

Home Efficiency and Usage:

• Improve Insulation: Ensure your home, especially the basement and attic, is well-insulated and sealed against drafts to prevent heat leakage.

• Manage Your Thermostat: Use a properly calibrated and programmable thermostat. Lower the temperature by a few degrees, particularly when you are away from home or asleep.

Purchasing Strategies:

• Buy in the Off-Season: Order heating oil during the summer months when prices are generally at their lowest. This strategy is most effective if you have a large primary tank or a separate storage tank to accommodate bulk deliveries.

• Consider a Delivery Contract: Some companies offer contracts with a set price for the term. This can lead to savings if market prices for oil increase, but you might pay more if prices drop.

The cost of heating oil fluctuates rapidly based on supply and demand, but the average price is between $4.00 and $4.50 per gallon, which means filling a standard 275-gallon tank would cost between $1,100 and $1,240. Much like automotive gasoline, the price of home heating oil changes constantly, so the only way to get an accurate and current price per gallon is to contact a heating oil delivery company. Some companies also offer contracts with a set price that should be an average cost over the contract term.

The best time of year to purchase or replace an HVAC system, including components like an air conditioner or furnace, is during the off-season—spring and fall. During these periods, HVAC professionals are less busy than in summer and winter, when extreme temperatures create urgent demand. Shopping during the off-season can lead to savings of 10% to 15% on an AC unit and allows you more time to find the best deal and other cost-saving incentives. Typically, air conditioning units go on sale in the fall after demand drops, while furnace prices tend to decrease in the spring.