How to save money when replacing your boiler
If you have an old or inefficient boiler, it's wasting both energy and money. But a boiler replacement can be expensive - here's how to save money when replacing your boiler.
Old boilers are inefficient 15-year-old boiler might only reach 60% efficiency, which effectively means that 40% of the money you spend heating your home is unnecessary. And if you have a boiler that requires you to leave the pilot light on, this alone could cost you up to £50 a year.
On the other hand, modern combi boilers are over 90% efficient, with some boasting energy efficiency even greater efficiency thanks to innovative technology that enable them to extract heat energy from incoming air.
A boiler replacement could easily save you and your family hundreds of pounds every year - money that would be better spent on a holiday, a party or pretty much anything other than unnecessarily high energy bills.
What if my boiler breaks down?A boiler breakdown is probably not something any of us consider until it’s too late – here's what to do if your boiler breaks down.
How to replace your old boiler
Although there are significant savings to be made, you might still be reluctant to replace your boiler because of the initial expense involved - household budgets have been under pressure for years, so you might not be able to find the cash you need to make these money-saving home improvements.
The good news is, there are a number of different grants and loans available that may enable you to save money on the cost of replacing a gas boiler, or some that may even enable you to install the boiler for free.
What is the Green Deal?
The Green Deal is a government scheme which provides a grant that can be used towards the cost pay for the cost of a new boiler. To qualify, you might also need to install additional energy efficiency measures, such as insulation, and may have to take out a loan to finance these improvements.
To use the Green Deal, you'll need to get an assessment of your property from a certified Green Deal assessor or ask a Green Deal provider to find an assessor for you. You may have to pay for an assessment, and your assessor must tell you the fee in advance.
You may also be able to set up a Green Deal finance plan, whereby you repay the cost of upgrades through your electricity bills. Repayment charges should not be higher than the savings you make on your energy bills.
What is the Energy Company Obligation?
Energy suppliers are also obliged to help customers save money and reduce their utility bills through the Energy Company Obligation (ECO) Energy Company Obligation (ECO). This initiative runs alongside the Green Deal and provides households - particularly those containing vulnerable residents - with additional energy-efficiency support.
The Home Heating Cost Reduction Obligation aspect of the ECO states that energy suppliers should provide low-income and vulnerable people with measures to improve their home, which includes boiler replacements and repairs.
What other help is available?
Boiler breakdown cover specialists 247 Home Rescue offer up to £200 to people with a membership, to put towards the cost of a new boiler. This grant is only available to people whose boilers are less than eight years old, and only when the boiler has broken down and is deemed to be beyond economical repair.
Local authorities also operate a range of boiler replacement schemes. Contact your local authority today to find out what they have to offer you. A lot of council's projects will be constrained by time or money, so it is best to make an enquiry the moment you realise you need a replacement boiler.
How to compare boiler replacement quotes
To find out more detailed information about the cost of boiler replacement, the savings that can be made, and how to run a boiler replacement comparison, go to https://www.ukpower.co.uk/boilers/quote-request
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.