Should You Invest In A Larger Heating Oil Or Gas Storage Tank?

If you heat your home with oil, propane, or natural gas, you may find yourself facing a tough decision when your tank runs dry with just a few cold weeks left in the year -- or when prices are high due to short supply. For those who find yourself running out of heat at inopportune times, upgrading the size of your storage tank (or getting a backup tank) may help you stock up on oil or gas during late summer sales instead of being held hostage by mid-winter rates. However, there are a few things you'll want to evaluate before taking the plunge. Read on for some questions you should ask yourself before investing in a larger tank for your heating oil or gas.

Is your home as efficient as it could be?

While getting a larger tank will allow you to purchase and store more fuel to get you through the winter, if your home has thin insulation, drafty windows, or poorly-placed heating vents, you could save money (and eliminate the need for a larger tank) by making your home more energy-efficient. For drafty or single-pane windows, you should be able to place a protective film over the interior surface of the window to prevent heat loss. Heat lost through your roof due to insufficient attic insulation can usually be solved by applying some inexpensive spray-foam or blow-in insulation. In other cases, you may want to block off or even reroute heating vents near your door or windows (where heat released can easily escape). 

Another source of inefficiency can be your heater itself. If your current heater is original to your home (or more than a couple of decades old), it's likely that a new energy-efficient heater will reduce your fuel consumption enough to help you make a single tank fill last all winter. 

Can you rent a larger tank?

If your home is already relatively efficient but your tank is simply too small for your heating needs, you may be able to rent a tank from your oil or gas supply company for a small monthly fee. By renting a tank from the same company that supplies your fuel, you'll often be able to receive discounts on delivery charges or other fees. For those who aren't yet in a "forever" home or whose careers often require relocation, this can often be a more cost-effective option than purchasing your own tank.

Talk to a company like Cash Oil to learn more.