The financial benefits which result from the combustion of pellet biofuels in domestic, professional and industrial applications are significant:
- Abundant local fuel supply: Biofuels stem from local agricultural and forest land and can turn many young farmers and loggers of the countryside to the field of an organized and efficient biomass collection with modern mechanical means, thus providing an important route out of unemployment.
- Creation of thousands of new jobs: In addition to local involvement in the primary sector (agriculture of energy crops and cleaning of forests and suburban groves), the biomass over time can create thousands of new jobs in the biofuels’ production industry, in manufacturing industry for biomass boilers and stoves, in new certified installers, in logistics companies, in combined heat and power stations.
- Reduction of reliance on fossil fuels: Biomass addressed for pellet production is a locally available energy solution which supports our national economy and security and reduces our reliance on imported, polluting and non-renewable fossil fuels which were formulated millions of years ago.
- Savings over 50% compared to heating oil: The use of pellet biofuel combustion systems provide savings to the cost of domestic heating up to 50% in comparison to conventional fossil fuels, while the initial investment of purchase of a new biomass combustion system can be paid back in just two (2) years (depending of course on the geographic location, the house exposure to winds, the thermal insulation and the operation profile of heating system by the user).
- Price stability compared to fossil fuels: Because biomass resources are renewable and are not related to fossil fuel reserves, availability of biomass as feedstock for biofuel production has significant dispersion and biofuel production is decentralised and is undertaken by numerous manufacturers at different production rates, the prices of solid biofuels and pellets in particular are quite stable, unlike prices of fossil fuels (mainly oil and natural gas), which present abrupt changes and increases.
Below we present a useful tool of quick and approximate calculation of the annual heating savings of a residence by using pellets (source: http://www.biomassenergy.gr/en/).