Oil tanks installed after January 1, 2013 must meet new standards
Unpredictable fuel oil tank failures have resulted in millions of dollars of property damage and environmental contamination. Many failures occur at the bottom of the tank from internal corrosion and occur without warning.
In an effort to address this and to prevent and detect tank bottom failures, fiberglass tanks are now available and tank manufacturers have developed new designs, including a double bottom. A leak from internal corrosion at the bottom of the tank can be prevented from escaping, by the second bottom and include a means to discover if the tank has leaked at the bottom.
"As of January 1, 2013 in Ontario, the Technical Standards and Safety Authority (TSSA) will require that all new tanks, both indoors and outdoors, be installed with a double bottom, double wall or secondary containment. Contractors and installers are required to ensure that TSSA approved double bottom tanks are installed."
Higher Cost of Replacement
When negotiating purchase and sale agreements REALTORS should be aware that the cost of tank removal and replacement with one of these new tanks will be at least $500 more than what you may be accustomed to. Before finalizing an agreement, be sure to contact at least one local fuel supplier or heating contractor to verify the updated cost of a tank replacement.
A Silver Lining
In terms of environmental protection and reduction in liability and cleanup costs, there may be benefits to homeowners in terms of insurability and potentially reduced premium rates as a result of the risk reduction represented by installation of a safer, more secure type of oil tank.
Modern fuel oil storage tanks are available in a variety of sizes and styles. Pictured here is a Roth 275 gallon double-wall oil storage tanks, available in both standard and low-height configurations.
For more information on these new requirements visit www.tssa.org For pricing information, you can Google “double wall oil tank price” (Note that prices will vary with location and model of tank chosen)
Visit my home inspection website at www.electrospec.ca