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FAIRBANKS -- This is the second article in a series on residential wood heating. The series will include information about firewood, different heating appliance options, applications, installations and other aspects that will hopefully help us conserve our resources, keep our environment healthy and keep us warm.

One of the most common questions asked when people are trying to sort through their options to heat their home with wood is “How much does each system cost?” The answer is, “It depends.” The cost can vary significantly from a simple woodstove to a highly-engineered wood pellet burning boiler.

A good place to start is by looking at the economics of wood as a fuel and the potential savings that could be possible for a couple of the different systems that are available. The idea with this approach is that if you know the upfront operating cost of an appliance, you can factor that together with the initial purchase price to better understand what the overall long term cost will be. It might make sense to choose a stove or appliance that has a higher initial cost but is more efficient and uses less wood for long-term savings.

Here is a brief comparison of the cost of wood versus using No. 2 heating oil. Burning 1,000 gallons of oil for heat at current prices would cost $4,320. To produce the same amount of heat by burning wood in an EPA-approved woodstove would take approximately seven cords of firewood. Assuming you purchased firewood at a price of $250 per cord, the cost would be $1,750 and the resultant savings $2,570.

For a pellet stove you could expect to use about 383 bags of wood pellets to produce the same amount of heat. Assuming a price of $5 per 40 pound bag, the cost would be $1,915 and the savings $2,405.

For those with the time, desire and ability to cut their own firewood, there’s more substantial savings. If you harvest wood with a wood-cutting permit from state Division of Forestry, it will cost $5 per cord. So using the same EPA-approved woodstove, your heating cost would be reduced to $35 with a savings of $4,285. Of course there are additional expenses and wear and tear on equipment and vehicles but with such a large potential savings most people would consider those costs negligible.

An additional consideration in the overall picture is convenience. And like most other things, adding convenience to wood burning comes with a price. For now, I am only comparing two space heating appliances that can do the same job but for which the economics can be quite different.

With a woodstove you can purchase firewood or cut your own. With a pellet stove, you are limited to purchasing your fuel. You limit your potential savings by choosing a pellet stove but you are adding convenience because most of these stoves can operate automatically and unattended. These large differences in operation and cost make deciding which option is best a highly personal matter depending on your own situation.