Boilers heat homes with either steam or hot water. Most boilers use either gas or oil to run; however, there are also electric, steam and wood pellet fueled boilers available. Most boilers that are over twenty years old are not cost efficient and should be replaced with a newer cost efficient boiler. Older boilers have a 56%-70% heat efficiency rate, while newer boilers have a 95%-97% heat efficiency rate. New boiler prices range from $600-$40,000; however, homeowners will make up new boiler cost over the years from what they save in heating costs. To further help decrease new boiler cost, in the United States, the government offers an income tax credit to homeowners who upgrade their old boiler to one with a 90%-97% efficiency rating.
In addition to the new boiler cost, homeowners may have to pay to have a fire inspection to ensure the boiler is installed correctly and is safe; fire inspections cost $25-$75. Homeowners may also have to install a new chimney liner for the new boiler; chimney liners cost $300-$700 for a gas boiler and $700-$1800 for an oil boiler.
How Much Does A New Boiler Cost?
New boiler cost varies greatly depending on the type of boiler that is purchased. New boiler cost ranges from $600-$40,000. Electric boiler cost ranges from $600-$2000; electric boilers are the cheapest type of boiler. Gas boiler prices range from $2500-$5000. Oil boiler cost is $3000-$6500. Wood pellet boilers cost $6000-$18,000. Steam boiler prices are around $10,000. Condensing boilers are some of the most expensive types of boilers; condensing boilers cost $20,000-$40,000. New boiler costs are also affected by location and where the boiler is purchased. In addition, new boiler costs are affected by whether the unit is mid-efficiency or high efficiency; high efficiency boilers cost more than mid efficiency units.
Replacement Boiler Cost
The cost of boiler replacement varies depending on whether the boiler replacement can be fitted to work with the old boiler’s system or not. Usually, the cost of boiler replacement is less than first time boiler cost; however, if all new piping needs to be put in and the old boiler needs to be removed and disposed of, the cost of boiler replacement can be the same or even slightly more than first time boiler costs. The cost of boiler replacement also varies greatly depending on what type of replacement boiler is being installed. Usually, the cost of boiler replacement ranges from $2000-$9000 with installation; however, this does not include the cost of removing the old unit and any serious refitting that may be needed. The cost of boiler replacement can be as high as $40,000.
Boiler Installation Cost
Only a licensed or registered boiler installer should install a boiler. The cost of boiler installation varies greatly depending on location and the installer. The cost of installation is also greatly affected by what type of boiler is being installed and if an old unit needs to be removed. Boiler installation costs range from $600- $3000. In the United States, boiler installation cost is more in states with a high cost of living than in states with a low cost of living.
Boiler Service Cost
Boiler service cost varies per location and serviceman. The cost of boiler service also varies depending on the type of boiler. Generally, boiler service prices range from $50-$200. Service costs on mid-efficiency boilers are less than service costs on high efficiency units. In the United States, boiler service prices are cheaper in states with a low cost of living compared to states with a high cost of living.
Steam Boiler Cost
Steam boilers are more expensive than electric, oil or gas boilers. Steam boiler prices are similar to wood pellet boiler prices. A steam boiler costs less than a condensed boiler. The average steam boiler cost is around $10,000 with installation.
High Efficiency Boiler Cost
High efficiency boilers have an efficiency rating of 95%. High efficiency boilers cost more than mid-efficiency units; however, they save homeowners money in heating costs. High efficiency boilers cost $10,000-$40,000 with installation.
Condensing Boiler Cost
Condensing boilers are more expensive than oil, gas or electric boilers. Condensing boilers cost around 50% more than gas or oil boilers. However, condensing boilers are high efficiency boilers that save homeowners significant money on home heating costs. Condensing boiler prices range from $20,000- $40,000 with installation.
Commercial Boiler Cost
A commercial boiler is far larger than a normal residential unit. Commercial boiler prices are higher than residential boiler prices. Commercial boiler cost varies depending on the type and size of the unit. Commercial boiler prices can be as low as $2000 to as high as $50,000. A high efficiency commercial boiler costs considerably more than a mid-efficiency commercial unit.
System 2000 Boiler Cost
System 2000 boilers are more expensive than gas or electric boilers. System 2000 boiler prices are less than condensing or wood pellet boiler prices. System 2000 boiler prices vary per size; however, the average homeowner spends around $6000 on System 2000 boiler cost.
Gas Boiler Cost
New gas boilers cost $2500-$5000, including installation. The average new gas boiler cost is $3000, including installation. New gas boiler cost varies per location and where the boiler is bought. Gas boiler prices are also affected by the size and style of the gas boiler, and its efficiency rating. Homeowners with very large homes or those want a top of the line unit may spend as much as $5000 or more on a new gas boiler.
Oil Boiler Cost
New oil boilers are generally more expensive than new gas boilers. New oil boilers are more expensive than electric boilers. An oil boiler costs more to run than an electric or gas boiler. New oil boiler cost is less than condensed, steam or wood pellet boiler cost. Oil furnaces are not as efficient and cost more to run than condensed, wood pellet or steam units. New oil boiler cost ranges from $3000-$6500, including installation. As the cost of fuel oil is quite high, oil furnaces are some of the most expensive boiler types to have.
Electric Boiler Cost
Electric boilers are less expensive than gas boilers. However, electric boilers are more expensive to run than gas boilers. Electric boiler prices are less than oil boiler prices and are cheaper to run than oil boilers. However, unlike gas or oil boilers, electric units have no heat loss. Electric boiler prices range from $600-$4000. A mini electric boiler costs $600-$1000. An electric boiler for larger homes costs $1000-$2000. A commercial electric boiler costs $2000-$4000.
Wood Pellet Boiler Cost
Wood pellet boilers are more expensive than gas, electric or oil boilers; however, wood pellet boilers are significantly cheaper to run than electric, oil or gas boilers. Generally, wood pellet boiler cost to heat a home is around 70% cheaper than fuel oil boiler cost. Wood pellet boilers range in price from $6000-$18,000 including installation. Wood pellet boilers are a good choice for an environmentally friendly home.