The Costs of Oil Tank Installation in NJ

While many homes in the United States heat their homes from a gas or electric furnace, over seven million homes still use heated oil from oil tanks. This constitutes about ten percent of the American population. This means that ten percent of the population is environmentally responsible for the potential dangers that accompany their oil tanks.

Homeowners should be aware of the potential costs of an oil tank prior to moving into their house. Once inhabiting a home with an oil tank, regular maintenance is required to prevent any type of leaks or other potential harm.

Removal Cost

Say you’re a homeowner and your above ground oil tank is hitting its 20 year mark. Even if it seems to be functioning well, it’s very important to replace it. Especially because nowadays, oil tanks are made to be much more durable and safer from an environmental perspective. Take the extra precautions when it comes to your oil tank. So you proceed with removing your old oil tank. Luckily your oil tank is above ground, so the removal costs are not so expensive because no landscaping has to be dug up to access your oil tank. Removing an oil tank can cost anywhere from $500- $3,000 depending on the difficulty of excavating the oil tank.

oil tank installation in NJ

Remediation Cost

The next cost you may face as you lead up to your new oil tank installation in NJ, is any needed remediation costs. Remediation consists of any soil and cleanup assuming there were any leaks in your oil tank. There’s really a large range when it comes to remediation costs, but they can be as low as $2,500 or as high as $100,000 depending on the extent of the damage. This is why replacing your oil tank is important, as well as regularly maintenance of it. Trying to stretch out the lifespan of an oil tank in NJ is never wise and can actually cause an even larger expense in the long run.

oil tank installation in NJ

Even if it appears there have been no damages when it comes to the soil and other surroundings, soil testing is necessary post removal of your NJ oil tank. Testing your soil can cost up to $500 extra, but is also an important precaution to take when it comes to ensuring there has been no leaking on the property.

One last extra that may arise during the removal process is any repair needed of the landscaping. This cost will be considered primarily only when dealing with an underground oil tank. Dirt may need to be filled back in and grass seed replanted.

Installation Cost

The final cost will be that of the new tank and its installation. Installing a new tank will run around $1,500. So overall, a homeowner is looking to spend around $2,500- $3,000 to successfully remove an old oil tank and to install a new one. Compare the difference in price between that and the cost of extreme remediation! And it’s not just about the financial cost. You’re doing the environment and your neighbors a service as well by keeping up with your oil tank.

Oil tank installation in NJ can be somewhat of a costly endeavor, but with the right professionals working in the right timeframe, it can be a painless, stress- free process. This is not something for a homeowner to attempt to do on their own. Certain permits and regulations exist regarding oil tank installation in NJ, as well as regarding the removal and remediation process. Enlist the help of someone who knows the ins and outs. Call us today at Oil Tank Solutions, and we’ll provide the professionals you need to make this a simple job.