Written by Karen Bryan
There’s a lot of talk about how much money you can save by installing a new gas boiler for your central heating system. While that may be true, you have to factor in the cost of the new boiler. We had some quotes for boiler replacement a couple of years ago and the price averaged £2,500.
We were told that we could save up to 30% on our gas bill if we had a new condensing boiler. As we spend around £500 on gas, that would be a potential saving of £150 a year. However it would take almost 17 years for these savings to pay for a new gas boiler. As boilers are reckoned to last between 10 – 15 years, it sounds a real possibility that we wouldn’t save any money at all replacing our boiler. I’m not even sure for how long we’ll stay in our current home and the old boiler is still chugging along happily.
We could regret not replacing our boiler if it breaks down in the middle of Winter and we have to wait weeks/months to get a new one installed. We can heat water by electricity in our immersion heater and we have a couple of electric convention heaters, so we wouldn’t freeze but it wouldn’t be very pleasant.