How long will it take to make back the cost of a new boiler in savings
A new boiler is not cheap. The cost of a new boiler can be anywhere upwards of £1800 when you include installation, so it’s important to get all the facts before you make a decision. Here we look at whether or not it’s worth replacing your old boiler and how long it will take for the investment to pay for itself.If you decide to install a new boiler in place of an old energy-inefficient one you can expect to save some money on your gas bills.
If you opted for a new boiler with 90% efficiency costing £1800, here’s how much you could expect to save on a typical gas bill and how long it would take to pay for itself:
|Efficiency of your old boiler||Annual saving on your gas bill in %||Annual saving on your gas bill in £||How long it will take for your boiler to pay for itself|
Calculations based on a home with gas-powered central heating, using an average 17252 kWh gas p/a at a cost of £666 p/a.
A new boiler could also add to the value of your home, so take this into consideration when you’re adding up the costs.
When to get a new boiler
- If your boiler is beyond the point where it’s cost-efficient to repair it. If you’ve called out a qualified engineer to look at your boiler and they’ve told you that it’s at the point of no return then it’s time to make the investment in a new one.
- If your boiler doesn’t give you the control over your heating that you need – for example if the controls or timer aren’t very flexible, or there isn’t a thermostat – a new boiler might be a good option when it comes to helping to cut your heating bills. In some circumstance, you might be able to get away with just installing new controls.
- If your system has a ‘dry cycle’. A dry cycle is a feature found on older boilers which means that if the heating is on, but your home is already at the temperature set by the thermostat, it won’t switch off, but instead will send the heat to an ‘overflow radiator’ (usually in the bathroom). This can be a real energy waster, because you’re heating your home when you don’t need to be.
- If your boiler has a continuous pilot light. (This is the flame you can see burning through a small window on the front of some boilers.) This is a common feature on older boilers and it’s a real waste of gas.
- If your boiler is on the floor rather than on the wall, it is likely to be older and much less energy-efficient.
- If your boiler is G-rated for energy efficiency it’s a good idea to replace it. You can find out the energy efficiency rating of your boiler at www.boilers.org.uk .
- If you want to sell your house or you’re renovating your home a new boiler could add to its value.
Things to do before you buy a new boiler
- Have your boiler serviced. A service will make sure that it’s running properly and can eliminate lots of problems. Read our boiler maintenance tips for some simple measures you can take yourself to help your boiler run better.
A new boiler is a big investment, so it can take a while to make your money back in savings. Here are a few cheaper measures that you could take to cut your heating bill:
- insulate your loft;
- insulate your walls;
- draught-proof your home;
- insulate your windows;
- get new heating controls – a new thermostat, thermostats (thermostat radiator valves of TRVs) on your radiators, a new timer, and new radiators could all help;
- switch gas and electricity to make sure you’re paying the lowest possible price;