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Oil Boiler Replacement Costs: Read This Before Buying a New Boiler

If your home doesn’t have a furnace, the heating source is probably a boiler. Unlike furnaces, which heat and distribute air throughout the house, boilers heat and distribute water. That water is transferred through the house via pipes and radiators to serve as a heating source. Boilers can be fueled by gas or oil.

There are distinct advantages and disadvantages to boilers. They’re quiet and produce even, reliable heat. They’re great for cold climates, and the heat isn’t drying like that of a furnace. However, boilers are slower to react to temperature changes, susceptible to leaks, difficult to install and difficult to convert.

Cost of a New Boiler

Compared to other heating systems, boilers are expensive to repair and replace. However, the price is impacted by a number of factors, most notably the efficiency of the unit:

  • Mid-efficiency boilers, which operate at about 80 percent to 83 percent efficiency, usually cost anywhere from $3,000 to $6,000.
  • High-efficiency boilers, which operate 90 percent t0 98.5 percent efficiency, cost about $6,000 to $9,000, although you’ll save money on energy bills.

Generally, oil-fired boilers are slightly more expensive than gas-fired boilers. They’re also more expensive to operate. The price of a boiler may also be impacted by the number of heating and cooling zones in your home - the more zones, the pricier the unit.

You can save money on a new boiler by looking into tax rebates and incentives. Energy Star offers a $150 federal tax credit for boilers with 95 percent or higher efficiency ratings. And some states offer further tax credits that can help bring down the cost of high-efficiency systems.

Other Costs and Fees

There are several other factors or circumstances that can impact the overall price of the boiler:

  • If you’re upgrading to a high-efficiency unit, you may need a new chimney liner. These cost anywhere from $300 to $800 for gas-fired boilers and about $800 to $1,800 for oil-fired boilers.
  • Replacing an oil boiler with a gas boiler can cost $10,000 to $12,000, due to the need to install gas lines, update existing fittings and pipings, etc. Any kind of retrofitting job is bound to be expensive.
  • Removal of the old unit usually costs extra - about $300 to $1,200. Be sure to find out if the cost is included in the price you’re quoted.

Author: Ashley Smith

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