10-20% on NG since getting the Kiwanee to steam costs more than a new unit since it holds more water and is big. Run numbers with these 3 changes, Energy cost increases, True efficency or Energy Factor, and unforseen repairs. I think could cut your payback in half. Wouldnt that be an investment, or am I wrong.
A new boiler will save me about 120 gallons of oil a year. Having it installed will exceed $6500. Today I'm paying $3.09 so a gross savings of $370 a year at today's price. That comes out to over 17 years. Factoring is some price increases, it will come down some, thus the estimated 12 years.
Truth is, my boiler will probably have to be replaced or need major repairs in the next few years so the question is, when do I do the replacement? I just don't see the need to spend a lot of money today just for the potential savings. As always, the lingering question is when? Next summer at a leisurely pace? Or some bitter cold winter day when it dies? I can still buy a lot of repairs for the annual cost of the replacement equipment.
Someone mentioned it would increase the value of the home. Yes, it will, but not to the point of full payback. It is understood that a house will have a working heater when you buy it so an older original will have a slight knockdown, but will that be $2000 or $6500? I'd get a better return putting that money into the bathrooms or kitchen. Besides, I have no plans to move so I'm not using that in the decision making process.
Now, if the installer said I could pay it off in annual payments equal to
150 gallons of oil, I'd have a new boiler at no additional out of pocket. I'd take that.
FWIW, I'm looking at having O2 trim installed on our boilers at work. Projected savings is 2%, but we spent $220,000 for gas last years.