Will a Combi Boiler Save you Money?

With energy bills still on the rise, many homeowners are looking for ways they can save money on their heating bills. One way you can save money is by replacing your old boiler with a new, energy efficient combi boiler. Keep reading this guide to find out how a new combi boiler could help save you money. 

Is it worth investing in a new boiler?

If you’ve had your old combi boiler for more than 10-15 years, then it is definitely worth investing in a new boiler. Not only will a new boiler be much more efficient, it will also prevent you from paying out on expensive boiler repairs thanks to the improved reliability.

As your boiler begins to age, it loses its efficiency, as you can see in the list below:

• 0-10 years = 90%+
• 10 years = 85%-80%
• 15 years = 80%
• 20 years = 75%
• 25 years or more = 70%-60%

Will a combi boiler reduce my bills?

Yes, it is most likely that upgrading to a new combi boiler will help to reduce your heating bills. This is because new combi boilers are much more efficient, with nearly all condensing combi boilers having an ErP rating of A or above.

To determine if a combi boiler will reduce your bills, you should:

• Compare the boiler model ratings. The higher the rating, the more efficient it is. 
• Take into consideration things such as energy price caps, energy prices and your typical energy bills

Don’t worry if you don’t know where to start with this; our team at Lacey Plumbing & Heating will help you to calculate your potential savings. 

Will I save money switching to a combi boiler?

Again, this will depend on your unique circumstances. However, if you currently have an old boiler that is around 15 years old, for example, it will likely be running on an energy efficiency rating of less than 70%. 

Having a new combi boiler will help lead to significant energy saving costs since the running costs will be much less, which in turn will reduce your annual spendings.

When should a boiler be replaced to be most cost effective?

In terms of when you should replace your boiler, you should ideally look to replace it every 15 or so years. This will help to ensure that the efficiency isn’t dropping below 70% and ensure it still remains reliable and safe. 

The time of year you replace your boiler can actually also affect how much money you can save. It’s a good idea to replace your boiler in the summer rather than winter, since there are lower demands for boiler repairs and replacements. Replacing your boiler in summer means you can be prepared for the winter with an energy efficient boiler that you know you can rely on.

How to calculate potential savings from a new combi boiler

To calculate your potential energy savings from installing a new combi boiler, follow the steps below:

1. Take your annual heating bill from last year
2. Estimate the efficiency of your current boiler (you can use our guide above)
3. Estimate the efficiency of your new combi boiler 
4. Deduct the existing boiler efficiency from the new boiler efficiency to calculate the efficiency improvement. For example, 85%-75%=10%
5. Multiply your annual fuel bill by the efficiency improvement to get your savings figure. For example, if your annual bills are £800, 800×0.10=£80 savings per year. 

If you’re interested in upgrading your old boiler to a new combi boiler, contact our team today to discuss your heating needs.