AVEBIOM, the Spanish Biomass Association, published the publication price comparison between the main energy sourcesas is the case for pellets, which are available on the current market in our country for home heating with data from the first half of 2024 to help consumers make well-informed decisions about them.
With energy prices having fluctuated widely in recent years, European and Spanish consumers are faced with the need to choose the most suitable energy source to heat your homes. This choice should be based not only on current costs, but also on the stability of prices over time and the environmental impact of each option.
Data from EUROSTAT, IDAE, MINETUR and MIBGAS, and the biomass price indices (IPB), compiled by AVEBIOM on a quarterly basis since 2012, were used to pellet of wood, splinter and olive stone.
Solid fuels: economical and renewable pellets
Loose solid biofuels such as wood pellets, olive kernels and wood chips Wood will remain the most economical and sustainable option for heating in 2024: they offer significantly lower costs than electricity and fossil fuels, and their price shows greater stability over time.
For example, the prices of bulk wood and olive stone pellets were below 7 cents/kWh in June 2024, while the wood chips clearly remain the most economical optionwith prices around 3 c€/kWh.
Loose Solid biofuels such as pellets were the most competitive option for heating in 2022, even at a time when pellet and bone prices reached their highest levels ever, contrary to the perception of some users. In fact: heating with natural gas was 44% more expensive than heating with pellets in 2022, and heating with, for example, electric radiators cost three times as much as heating with pellets.
The prices of the solid biofuels to the final consumer began to decline as early as December 2022 and have continued to decline in 2023 and 2024; This is reflected in the price index (IPB), which is compiled quarterly by AVEBIOM for pellets, chips and bones, and the ex-factory index for ENplus® pellets in the factory, which is calculated monthly.
The most expensive option is electric
Electricity is still there one of the most expensive options for heating a house. Although prices fell slightly in 2023 and 2024 following the 2022 energy crisis, in June 2024 they were around €14c/kWh.
Even if we consider its use with a heat pump, taking into account a realistic SCOP of 2.5 (seasonal coefficient of performance), heating with electricity marked the maximum of all technologies by 9.74 c€/kWh in June this year, as shown in the graph.
The variability in wind and solar energy generation and the limited interconnection with other European markets keep prices high. While electricity prices are likely to remain lower than 2022 peaks in the coming months, volatility remains a risk, especially if demand grows faster than renewable generation capacity.
Gasoleo C and GLP
As for the Natural gas is the third most expensive heating option. in Spain. In June 2024, the TUR2 (for contracts >5,000 kWh/year) will be approximately €8.2 c/kWh.
Although its price has seen a notable decline in 2023 and 2024, it could rebound in the coming years after the historic peaks of 2022, due to the stabilization of the international energy market, the diversification of supply sources and the decline in demand. to rise. months whether global demand will recover or whether new geopolitical tensions will arise.
Although it is sometimes considered a competitive option, consumers should therefore be alert to possible fluctuations such as those that have occurred in previous years. With 9.18 c€/kWh in June 2024, C diesel is the most expensive energy source after the electric heat pump.
Although it is one of the most common heating options in rural areas and in homes that do not have access to natural gas, its use continues to decline due to the increasing adoption of more sustainable alternatives and to the volatility of fossil fuel market prices.
When it comes to heating homes, it is really essential to carefully investigate what options we have. Choosing between them can be a challenge. significant savings in money and energy.