With gas and electricity bills going up by an average of £700 per year and more price hikes on the way, it’s more important than ever to get the most out of your heating system. Since heating accounts for almost two-thirds of your energy costs, making sure your boiler works well should be your top priority if you want to save money on energy.
The easiest way to cut your gas use by a lot is to replace an old boiler that doesn’t work well. But most people don’t want to replace an old boiler because it can cost thousands of pounds. You might think that this option should only be used if your boiler breaks down for good, but it’s often the cheapest long-term solution.
So, let’s look at how much money a new boiler can save you and if it’s worth the big investment up front.
How well does my current boiler work?
To figure out how much money you could save by getting a new boiler, you should first look at how energy efficient your current boiler is.
All boilers made and put in after 2010 should have at least an 88 percent efficiency rating. If your boiler was made before this date, its efficiency rating could be much lower than this value. For example, a boiler with a G rating is only 65 percent efficient.
The energy label, which is usually on the front or side of your boiler, will tell you the exact efficiency rating of your boiler. You can also go online and enter the model number of your boiler to see how efficient it is.
How much money can I save if I upgrade my boiler to one that uses less fuel?
How much you can save on your energy bills by upgrading your boiler depends on many things, such as the type of boiler you have (condensing vs. non-condensing) and how your home is built.
So, here are the savings that the Energy Savings Trust thinks your new boiler will bring you if you are upgrading from a G-rated or D-rated boiler:
D-rated Boiler to A-rated Boiler
- Detached property – £165
- Semi-Detached Property – £135
- Detached Bungalow – £105
- Apartment – £50
- Terraced Property – £115
G-rated Boiler to A-rated Boiler
- Detached property – £365
- Semi-Detached Property – £240
- Detached Bungalow – £190
- Apartment – £95
- Terraced Property – £205
As you can see, the savings can be big, and they will be even bigger now, since these numbers were based on prices in November 2021. But you have to weigh these costs against the cost of installation to decide if it’s worth it to upgrade.
How much will it cost to put in a new boiler?
Even though it’s impossible to give an exact price for installing a new boiler, you can expect to pay between £1,000 and £3,000, not including radiators.
Of course, the money you save won’t cover these costs right away. But if you decide to spread the cost out over ten years, for example, using finance or credit, the monthly savings could be much higher than the monthly payments, and your boiler could essentially pay for itself.
Check out our full guide covering the costs of a new boiler.
What kind of boiler should I get?
When choosing a new boiler, there is no right or wrong answer. Your ideal boiler will depend on your needs and preferences, like the size of your home and whether or not you need to store hot water.
Most boilers in UK homes are either system boilers, conventional boilers, or combi boilers. Still, a professional solution or switching to an electric boiler might be better for your situation. No matter what type of boiler you choose, many of the top brands offer the same performance data. Check out our in-depth guide to boiler types.
If you want to save money by getting a new boiler that uses less energy, don’t hesitate to call us at 01325 466016 to talk about your options. Every weekday from 8:30am to 5:00pm, you can talk to us for free advice and quotes.