Convert Oil Heat to Electric for 13 Unit Apartment

[Donelle Meyer]

Hey! Does anyone have experience converting from oil heat to electric in an apartment complex? Currently heating and hot water cost to owner is $20K +. Only electric is separately metered and paid by tenants. Each unit already has baseboard heat. There is only one boiler. How feasible is it to convert the heating system from oil to electric? Is there any way I can transition the heating cost to the tenants? If it isn't possible to redistribute the cost among tenants, I'm willing to install solar to cover the increased electric consumption of the central heating system. 

Any thoughts/ideas/assistance appreciated! Are there any options I mat not be considering? Please let me know.