Cost-efficiency - The efficiency rating for older oil furnaces is around 60, which means that for each dollar that you spend, only 60 cents goes to actually heating up your house. Meanwhile, the average propane furnace runs at an efficiency rating of 90 percent or even higher. This means that by using propane heat, you will save around 30 cents for each dollar that you spend. On top of that, you can even save more with the lower cost of a gallon of propane. Furnaces and appliances that operate on propane also last longer, and this makes them the better long-term option.
Eco-friendliness - Compared to oil, propane is definitely more clean-burning. It produces fewer emissions. Burning oil is no different from burning wood, gasoline, natural gas, and coal, in that it produces carbon, which adds to global warming. On the other hand, the carbon content of propane is lower than that of fuel oil, diesel, ethanol, kerosene, and gasoline. The minimal carbon footprint of propane can play a huge part in combating climate change.
Versatility - There are many uses for propane apart from providing heat to your home. It can also run your cooking range, oven, water heater, pool heater, clothes dryers, and so much more. You can even use it to power your backup generator when a power outage occurs. Oil won’t be able to do that!
Insurance Liability - Most policies for home insurance have stringent rules on how oil tanks and furnaces are supposed to be stored, operated, and maintained. Depending on your policy’s fine print, you might have to buy a new oil furnace even if your equipment is still in good condition. There are insurance companies that cover the damage or the loss of your property due to an oil spill, but some don’t. An oil spill is very hard to clean up, and just a bit of it can contaminate huge amounts of water.