Heat Pump vs. Oil Boiler cost to operate
I currently use a oil boiler (hydronic baseboard system)(tested at 77% efficient) to heat home and supply DHW. I have a separate Trane XL1200 central air system.
Considering replacing the 20 year old Trane AC with a heat pump and using it as primary heat with oil (hydronic) back up.
I currently consume approx. 1000 gallons of fuel oil each year for heat and DHW consuming approx. 139 million BTUs for both in the process. I estimate 20% of that is DHW alone leaving 111 million BTUs for heat only.
How much would it cost (at 13.5 cents/kwh in Maryland) to produce 111 million BTUs using a high efficiency 16 SEER Carrier Infinity heat pump?
I realize I will have to add the DHW back into the equation and I am considering an indirect-fired unit zoned off the oil boiler as an option.
Would like to incorporate Solar hot water into the hydronic and DHW eventually via heat exchangers but now just considering the change to a heat pump.
Thanks for the guidance....