You’re probably reading this article because you’ve been considering a replacement of your central heating system and want the question answered of ‘how much is a new boiler?’ It’s not just the initial installation costs either that’ll be on your mind, but also how long the investment will take to pay for itself.
How much is a new boiler?
The first thing to understand is that new boilers aren’t cheap. There are opportunities to have a new boiler fitted for free under certain eligibility criteria, but you’ll need to be in receipt of Government support. You could also consider the Green Deal, a Government backed scheme whereby you are provided with a loan for the installation and payments are made with the money saved on your energy bills.
If you’re looking for a new boiler, the first thing you’ll find is prices can range quite significantly depending on the size of system you’re after and the brand itself. Some of the more popular brands include Baxi and Worcester Bosch.
So how much is a new boiler? Well, there are various costs associated with a new boiler, starting at £500 and going up to around £2,500. Many factors will determine this though.
How long will it take to payback?
If you take the decision to install a new boiler and get rid of the old, inefficient system you’ll expect to make quite a saving on your fuel bills. The Energy Saving Trust say you can save over £300 annually on heating bills with an efficient boiler, so you can quickly work out how long it’ll take to payback based on these calculations.
Remember, installing a new boiler will also have other benefits too such as adding to your home’s value and minimising the risk of a breakdown. Breakdowns can lead to costly repair work being needed and call-out charges for an engineer can be £300 alone.
When should I buy a new boiler?
All the above information is all well and good, but when should you actually need to purchase a new boiler. You don’t want to splash out when it’s an unnecessary buy. So when should you be looking to dig deep into your pockets?
- When the boiler is beyond cost effective repair: Old boilers will fault time and time again, creating a hole in your pockets with money flooding out. It’s time to replace your system if you’re forever calling out the boiler engineer.
- If your boiler doesn’t give you heating control: New boilers come ready built with thermostats so you can set exactly the temperatures you need for your home. This better management will slash your energy bills substantially.
- If you don’t have a combi boiler: Combi boilers are modern systems which provide both your home’s heat and hot water needs. They are built to provide hot water on demand and don’t need a water storage tank in the loft or airing cupboard.
- If your boiler has a G-rated efficiency: Boiler ratings range from A to G, with G being the least efficient. So if you have one of these systems you’ll be paying out hundreds of pounds extra each year on your bills. It could be time to bite the bullet and invest in an efficient replacement.
Facts & Figures You’ll Love To Share
- Heating accounts for around 60% of the annual household bill and a new boiler can slash expenses.
- By replacing your old and inefficient boiler you can save up to £310 a year according to the Energy Saving Trust.
- Energy prices have doubled since 2004 and will double again by 2020, so secure your energy future with an A-rated boiler.
- An annual boiler service costs between £50 and £100 but could save you hundreds of pounds on future repair work.
- With a new boiler you can slash carbon dioxide emissions by a whopping 1,200kg each year.
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