From the Associated Press July 14, 2008
PARIS, Maine – Mark Bancroft’s new pellet-burning furnace hasn’t been installed, but he’s already counting how much money he’ll save over his old oil-fired burner.
Instead of paying $5,000 for 1,100 gallons of heating oil in the coming year based on today’s record prices, he’ll spend $2,000 on about 8 tons of wood pellets. Even at a cost of more than $12,000, he thinks the new furnace will pay for itself within five years.
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