Can Investing in a New Boiler Can Help Reduce Your Energy Bills?
By Space Coast Daily // September 2, 2023
Did you know that heating your home and using hot water contributes to over 50% of your energy bills yearly? The recent energy crisis is forcing homeowners to assess their boiler efficiency.
How can you make your home’s heating system more efficient? And will investing in a new boiler help to reduce your energy bills?
Keep reading as we explore how to manage your hot water costs in 2023. Don’t miss out on crucial information to help you manage your monthly expenses!
Is My Boiler Efficient?
Looking at your boiler’s efficiency rating can help you decide whether to replace it. Whether your boiler is old or new, it might not offer the efficiency you need to cut your monthly expenses.
Each boiler has an efficiency rating, usually displayed on a sticker applied to the unit. The ERP sticker will give your boiler a rating – the higher this rating, the more efficient your boiler is.
Here’s a chart to help you gauge your boiler’s efficiency:
If you have an older boiler, the sticker might be missing. But there are other ways you can check your boiler’s efficiency. If you check under the boiler, where the pipes come out, you’ll see a model number. Using the model number and the brand, you can search online to check your boiler’s efficiency.
If your boiler is operating under 75% efficiency, it might be worth considering a replacement.
Old Vs. New Boilers: Which Is Best?
Is an old boiler always inefficient? Old boilers aren’t as efficient as new condensing boilers. But your new condensing boiler won’t reach peak efficiency right away. This is because condensing boilers must run at a shallow temperature for a while before the heat can become water vapors.
Condensing boilers easily recapture any heat lost through the flue so they can run at lower temperatures. Your condensing boiler won’t ever reach peak efficiency if you have the temperature set too high – so be mindful of this when overseeing the installation process.
The lower the running temperature, the more efficient the boiler. An old boiler can’t run at low temperatures as effectively as new boilers – so it’s worth considering a condensing boiler for your home.
Don’t know what type your boiler is? If your boiler is older than 15, it is likely not a condensing boiler.
How Much Is a New Boiler in 2023?
So, how much is a new boiler in 2023? You need to know the cost to determine whether it’s worth the investment. Depending on the boiler you choose, you’ll pay between $4290 and $10,070. A boiler replacement’s average price is currently around $7,000. Choosing a boiler priced too low could result in inefficiencies due to cheap or switched parts, so try to evaluate different boiler prices before purchasing.
Other Ways To Reduce Your Energy Bills
What other methods can you use to lower your energy bills and carbon footprint? Here’s how to survive in the world of fluctuating energy bills:
- Invest in solar. Get a renewable energy source so you don’t have to pay for power from the grid. Less stress about your monthly bills and a clear conscience when you use your household appliances.
- Get a smart meter. It can help you keep better track of the energy you use monthly or even daily. Then you can start making minor changes to your daily routine that make a significant change for your bank account.
- Energy-efficient appliances. Take stock of the energy-guzzling appliances in your house and consider replacing them with newer, more efficient models.
- Time your heating. If your heating system or AC (air conditioning) runs all day, you’re wasting money. You should set timers to ensure your heating and AC are on when you’re at home and switched off when you’re at work during the day. This will put a massive dent in your monthly bills!
Use cold water. While doing the dishes or laundry, using cold water more often will help lower your carbon emissions and put more money in your pocket at the end of the month.
- Insulate your home. You lose most of your heat or AC cooling if your home isn’t insulated correctly. Investing in insulation for your windows and doors is a great place to start, and you can enjoy more comfortable temperatures in your home without putting the AC or heating on overdrive!
Regarding your home energy use, it’s worth considering a new boiler – especially if your current one is over 15 years old. One small investment can save you thousands on your energy bills in the future. And the savings won’t stop there.
By making minor adjustments around your home and lowering your energy consumption, you can fortify your finances against the instability of the energy crisis.