Methanol-based alternative energy sources are critical to maintaining energy security, reducing the need for oil imports, and safeguarding the environment in China. However, the use of methanol-based fuels in the field of thermal combustion has not been thoroughly investigated. Therefore, an evaluation of the costs, emissions, and usage of methanol boilers is necessary. The study finds that methanol heaters and air source heat pumps have comparable annual cost values. Methanol heating furnaces emit the least amount of NOx and produce no SO2. After the refurbishment, the boiler's emissions and energy consumption have significantly decreased upon conversion of coal-fired steam boilers to methanol-based fuel hot water boilers. Nevertheless, the economy has also somewhat declined. Additionally, 5499 tce (standard coal) less energy will be used during the heating season, and 1.8 million CNY less will be spent on dust removal and desulfurization. Unfortunately, the economic benefits of methanol are only apparent when the cost of methanol fuel is less than 1900 CNY/t. The research presented in this paper provides an essential technological foundation for the development of methanol-fueled fuel burners and for the renovation of small and medium-sized coal-fired boilers.