Lets look at an example where you are using corn at $2.50 per bushel in a stove which has a seasonal heating efficiency of 60%. What is the cost per million BTUs of useable energy?
Corn Cost = $2.50 per bushel Energy content per bushel = 7000 BTU/lb x 56 lb/bu. = 392,000 BTU Seasonal Heating Efficiency = 60% = .6 Dollars per Million BTU’s Useable Energy = (Cost per unit of fuel ($) x 1,000,000) ÷ (Energy Content Per Unit Of Fuel (BTU) x Seasonal Heating Efficiency) =($2.50 x 1,000,000) ÷ (392,000 x .6) = $10.