Search for information on replacing a boiler, and you’ll find plenty of sites quoting impressive savings of hundreds of pounds a year.
While that might be possible for some, it’s not guaranteed and depends on two critical elements:
- Boiler Efficiency Gain: that’s the improvement in energy efficiency between your existing boiler and a more efficient replacement. Households with older, inefficient boilers have more saving potential by upgrading to the latest A-rated models. For example, a new 94% efficient boiler is going to waste a lot less gas and money than an old 84% efficient model. So, the ‘efficiency gain’ is 10%.
- Energy Consumption: larger households with higher gas consumption will see a greater reduction in their energy bills from installing a more efficient boiler. The level of savings depends on the efficiency gain provided by a new boiler replacement.
Once you have the above information, simply enter the numbers into the boiler savings calculator below to see if it’s worth investing in a new boiler.
How to Use the New Boiler Savings Calculator
The calculator is quick and simple to use, but is only as accurate as the information you enter into it.
Some questions are designed to provide a calculation even when you’re unsure about an answer, but the results will be based on averages rather than data from your specific circumstances.
Information You’ll Need
To calculate if it’s worth investing in a new energy efficient gas boiler and how long it could take to get your money back, you’ll need to know four things:
- The energy efficiency of your old boiler: rather than an A-G efficiency rating, the calculator uses the more accurate % rating number. You can find it in the user manual or online if you know the boiler make and model.
- The energy efficiency of your new a-rated boiler: ask your preferred installer or find it on the manufacturer’s website using the boiler model.
- The total cost of a new boiler installation: if you’ve had a quote from an installer, use that figure or request one from an online retailer.
- Your monthly gas bill: look at your latest energy bill and find the gas consumption. Even better, add up your gas bills for the last year and divide by twelve to get an average.
How Savings Are Calculated
Once you have the right information about the new and old boiler efficiency plus your typical gas bill, it’s a simple calculation.
[New Boiler Efficiency %] – [Old Boiler Efficiency %] x [Gas Bill £] = £ Savings
Example: 94% – 84% x £100 = £10pm
Understanding the Results
The calculator will estimate the monthly and annual savings, but will also show the annual return and payback period.
- Monthly savings are only as accurate as the figure you enter for your typical gas bill. For greater accuracy, take your annual bill and divide by twelve to work out the average.
- Annual savings are again based on the monthly gas bill figure you enter.
- Annual return is based on the estimated annual savings as a percentage of the new boiler installation cost. Basically, what percentage of the original boiler cost will you get back each year.
- Payback period is how long it could take to get the original cost of a replacement boiler back.
Please be aware that all figures produced by the calculator are estimates and that gas prices, consumption, and efficiency rates can change over time.
