How Much Does A Heating Oil Tank Replacement Cost?

Everyone wants to live at a comfortable home especially during the winter season. Nobody wants to live in a house that does not have a proper cooling and heating system. One great example of a heating system used around the residential area is the heating oil tank. These tanks can be placed indoor, outdoor or even underground. If you have bought a home that has an existing heating oil tank system you may be asking how much does heating oil tank replacement cost. We will tackle the topic of the various fees in relationship to the replacement of heating oil tank.

Various Prices of Heating Oil Tank Replacement

The cost to repair heating oil tank will vary depending on the material that you will use for the new oil tank. Aside from the location where your tank is installed will also matter. The harder it is to reach the tank the more expensive it will get. Aside from that, you would also have to consider the state you are in because different states will have different fees.

The cost of removing an old heating oil tank will be around $500-$3,000. This will depend on the size of your existing tank as well as the tank that you will be replacing. If your tank is placed above the ground then the cost of replacement is relatively cheaper.

If your tank is placed underground it will be much more expensive with an additional cost. Aside from the cost of replacement, you would also have to pay for the soil testing to check for any contamination. The average cost of the testing will range from $300 to $500.

Aside from paying for the removal cost, you would also have to pay for the installation and replacement of the old tank. The average heating oil tank replacement price will cost from $1,000 to as much as $2,000. The cost will include the payment of the labor as well as the purchasing of the replacement tank and installation.

You would also have to consider how you are going to dispose of the old tank once it is removed. The average cost of disposing of the old tank will likely cost you around $200 to $300. Aside from that, you should also check with your local state office if you need to pay for a permit to remove and install a new heating oil tank. Oftentimes, you would need to pay the amount of $100 for the permit fee.

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With this average heating oil tank replacement price in mind, you can assume that the total cost of the removal, installation, and replacement of a complete heating oil tank will range from $1,800 to $5,300. If your tank is placed under ground then you can expect to pay $2,100 to around $5,800.

If you are living in the Boston area, a reported cost of the replacement of a heating oil system cost $1,800. This amount will be for a heating oil tank located in the basement of the house with a standard 275-gallon tank. The procedure will take around 3 to 7 hours of work depending on the number of persons working as well as the complexity of the process.

If the location of the tank is hard to reach, say a small doorway and hall, the fee will be increased. A contractor will usually add an emergency fee worth $650 just to make sure that safety becomes the first priority of the project.

If you have a 550-gallon underground tank that is covered by grass then the cost of removing the tank is $1,100. Just make sure that there are no obstruction and no contamination as well. After the tank is removed, you would have to pay an additional $1,600 for the installation of the new tank. The cost already includes the new 275-gallon aboveground tank and labor cost.

The cost to repair heating oil tank will differ if they found a contamination on the soil after testing. If it is just a minor contamination, the cost of cleanup will be around $2,000 to as much as $9,000. But if the contamination is widespread then you would have to prepare around $15,000-$80,000.

Other Cost Involving Heating Oil Tank Replacement

Aside from the cost of the removal of the old tank and the installation of the new tank, there are other products you need to purchase for the service. There are materials that you can buy for the replacement of your tank.

To protect your tank from rust you can purchase the Rutland 104b 1 Quart Tank Shield for only $16.41 per can. The product will help eliminate oil-tank rust-out and soot build up as well as dissolves gum and sludge deposits. Because of this, the product can help increase the safety of your tank and intensify oil burner efficiency.

If you want to monitor the level of your oil remotely, you can purchase the Smart Oil Gauge – Wi-Fi Heating Oil Tank Gauge. What’s great about this product is that it will check your oil level from your phone. This product uses Ultrasonic sensor to check the level of the gas and send information to your phone via WIFI. This product only cost $169.00 for a very useful product.

But if you chose to monitor the level of your oil the old way, you can try the R W Beckett Corp 4504 KING Oil Tank Gauge. This product only cost $25.79 and can fit the standard vertical 275 or 330 oil tank. The gauge is good for a tank with a depth of 42-44″. It is easy to install and can last for a long time.

If you want to be on the safe side, it would be advantageous that you can purchase the Inkbird Itc-308 Digital Temperature Controller Outlet Thermostat. The device will detect whether your oil tank is already at high temperature. It is a plug and play device which makes it easy to use. The product only cost $35.00 and will give you the peace of mind with your heating oil tank system.

How You Can Save On the Price Of Your Heating Oil Tank Replacement

Now that you know how much does heating oil tank replacement cost, it is time to know how you can save on the cost of the service. One way that you can save on the cost of the service is by buying the tank yourself. This way you will know what material you want for your tank as well as the size that it can carry.

Another way that you can save on the cost is by taking good care of your tank so that you won’t have to replace it right away. You should choose the right size for your home and not just choose randomly. You should also know the type and make of the tank that you will be using. This way, you will know the advantage and disadvantages depending on the material used on your tank.

You should also regularly do maintenance on your heating oil tank. You need to ensure that the oil flows freely without any lumps and it should flow towards the outlet pipe only. Make sure that there are no oil leaks on your tank as this is dangerous for your safety.

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