Quote:
Originally Posted by Biggd
My oil consumption went way down after replacing my 30 year old boiler. I estimate a five year payback after seeing my oil bill drop this winter and this winter was much colder than the year before. And oil was more expensive this winter than the year before. Since it's a second home I sleep better not worrying about a 30 year old boiler crapping out and my place freezing up. To each his own.
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So my point on the pay back. If you are at 75% efficiency now and go to 85% efficiency with a new boiler and you burn 1,000 gallons of oil a year. You will save about 100 gallons of oil per year give or take. At $1.50 per gallon you will save about $150.00 per year. For a $5,500 investment it will take you 36 years to pay back your new boiler, not sure how you get 5 years, unless my math is way off.
A new boiler can crap out too, I monitor my house for temperature in the winter.
I went through this same scenario 5 or 6 years ago, my boiler is still going strong, but it's time is coming.