How to Calculate the ROI of Heating with Waste Oil
When considering alternative solutions to decrease your facility’s operation costs, it’s wise to research which potential solutions can save you the most money.
At EnergyLogic, we believe knowledge is power, and want to encourage potential customers to engage with our Waste Oil Return on Investment (ROI) calculator when considering the financial investment of purchasing a waste oil heater or boiler.
What’s being considered when I calculate my ROI?
First, we take into consideration your waste oil removal cost per month. Next, your monthly amount, in gallons, of used oil collected. Thirdly, your facility’s average heat demand based on size, in square footage. Because your heating season may vary based on where your facility is located, the number of months per year that you expect to need heat is then selected. Finally, these values can then be calculated and compared against the average energy price of your current heating source.
Once these options are dialed in, your estimated sums are represented by savings per year, savings over 10-years, and the time it will take for your new waste oil heater or boiler to completely pay for itself.