LD1, I'm sorry, I just don't buy into your theory that you have to factor in what the wood is worth if you sold it. I understand what you are saying and yes, it does have value. If I looked at things that way half the stuff I do in life wouldn't make finacial sense and I'd probably wouldn't have any fun.
Its not a theory.
Its a fact that the wood you are burning has actual cash value if you would choose to sell it.
I understand that burning wood is indeed a money saver for alot of people. The debate here is just "how much" is saved.
Lets oversimplify. Lets say there are three of us. We are all neighbors. Have exact same houses and exact same heating demands. We are Dodge-man, JK96, and LD1.
JK96 chooses just to buy heat. (propane, Nat-gas, electric, heat pump....pick your flavor). He handles NO wood, and dont want to. He spends $300/month for 6 months out of the year to stay warm. $1800 total
Dodge-man choose to cut, split, and burn 10 cord of wood to heat his house. He assumes this is low cost heat cause he only has the cost of running the equipment. A few gallons of saw and splitter gas, some equipment upkeep, etc. Maybe $200/year worth. He feels he is saving $1600 per year, and getting free exercise and enjoys cutting wood.
LD1 also enjoys cutting wood. But doesnt like the mess in the house, and the hassle of keeping a fire going. So like Dodge-man he also cuts 10 cord a year. But rather than burn that wood, He chooses to sell it for $160/cord. Still has the ~$200/year in running the equipment. He takes the remaining $1400, puts another $400 with it and buys heat just as JK96 does. Yes he is spending more than dodge-man to heat his house, but its worth it to him not to have to deal with the fire and mess in the house.
So is Dodge-man really saving $1600 a year when compared to LD1?