natural gas vs. electric boiler

[ketas47]

I am deciding if I should buy a natural gas boiler or electric boiler.Elect. boiler is $375(I already have the electric wire for boiler; 6-3 wire) and gas boiler is $900 and I have to install about 150' of gas line from my house meter to my garage @ about $500. I have pex tubing in concrete for heat (hydronic)
The price of gas is .24 per therm for distribution and .78 per therm for a total of (1.02 per therm)
The price of electric is(.12 per kilowatt)
Could someone convert to comparable cost. or tell me formula
Example gas: 1.00 per 100,000 btu Electric: 1.50 per 100,000 btu
I know gas is more expensive to install ,but if the payback on utility bill is better in long run than I may still be better off with natural gas?
Garage is 26' by38' fully insulated.
Thanks

 

[tomroblee]

One therm is 100,000 btu. From the rates you quote, one therm will cost you $1.02 for gas or $3.51 for electric.

Keep in mind that these are "input" costs. A gas boiler is likely to be less efficient, so the difference in "output" costs is likely to be less.

When you quote rates, make sure that you are looking at the variable portion of the rates only. It appears that you are for the gas rates, but I can't say for the electric rates.

Also keep in mind that rates tend to vary depending on the wholesale prices of natural gas and whatever fuel that is used to generate the electricity. Natural gas prices dropped considerably when the economy nosedived last year.

 

[nate379]

1 therm is 100,000 btus and which is ~29 KW

Gas boiler at best is going to be 93-95% efficient, though more common ones are 85%

Electric is pretty much 100% efficient.