With a variety of models available, boiler prices can vary significantly. Exactly how much you will end up spending depends on the kind of model you choose, the installation costs and, of course, how much it costs to run. One advantage of replacing an old boiler is that your new model is likely to be much more efficient, and therefore cost effective. With boilers accounting for around 55% of your annual energy expenditure, having as efficient a model as possible is very important. In terms of energy efficiency, modern condensing boilers are a considerable improvement on older models.
Below is a breakdown of some of the average prices for different boiler types and the savings you can generate by installing a new model. Before you decide on which boiler you are going to buy, make sure you have spoken to a trained installer about your heating and hot water needs; they can give you advice on the best type of boiler for you and your home. Also, don’t forget to get more than one quote. Always shop around until you have found the best option.
Boiler prices and running costs*
For a gas condensing combination boiler prices can start from around £1,000. Heat-supply boilers generally start at slightly higher prices, and bear in mind the potential cost of buying and instilling a hot water cylinder as well. According to the Energy Savings Trust if you are replacing an old G-rated boiler with a new condensing model, you are likely to save around £300 on your gas bill.
Factoring in installation costs, getting a new or replacement gas boiler will cost about £2,000 overall with average annual running costs starting at around £600 (see below for more details).
Electric boilers are much cheaper to buy, costing in the region of £500, but they are about £1,600 a year to run.
For a biomass system, an automatically-fed pellet boiler will cost around £12,000. It is worth bearing in mind that the Renewable Heat Incentive’s Payment Scheme offers a grant to offset the cost of buying a biomass boiler, and they are about £100 a year cheaper to run than a gas boiler.
Installation for all boiler types is likely to cost at least £1,000. Always use a qualified professional: for more information visit the Association of Plumbing and Heating Contractors.
How much can you save with a new boiler?
Condensing boilers are much more efficient than older models because they recover more heat. The following information is provided by Sedbuk (Seasonal Efficiency of Domestic Boilers in the UK), and compares the running costs of a new condensing boiler with older models:
Annual Fuel Costs
|Old gas heavy weight||55%||£875||£1773|
|Old gas light weight||65%||£759||£1519|
*Figures are rough estimates and may not be representative for the whole of the country.