The Cost to Install a New Boiler
- Some boilers use steam-heated radiators, while others circulate hot water for radiant flooring. Gas and oil models operate similarly, and their installation costs are comparable. Electric radiators are more expensive to operate. The size and efficiency of the boiler largely influence the overall cost of installation.
Federal tax credits for high-efficiency systems were available for boilers, as of 2011. They were set to expire at the end of 2011. If you have met the deadline, you could qualify for a $150 credit. - High-efficiency boilers are naturally more expensive than less-efficient models. The average cost for a high-efficiency model generally runs from $5,000 to $9,000, including installation. These models have an efficiency of 90 to 97 percent. This means that only 3 to 10 percent of the energy expended to operate the boiler is wasted.
- A mid-efficiency boiler is less expensive than a higher-efficiency model. Mid-efficiency boilers run from $2,500 to $4,000, including installation. They typically have an efficiency of about 80 percent, so even though you may pay less for the unit, your monthly fuel bills will be higher than they would be if you purchased a high-efficiency boiler. To determine whether you should opt for a mid-efficiency or high-efficiency model, try to determine how long it will take you to recoup the expense of the boiler, based on your energy savings.
If you plan to move in a few years, some people say that it's more practical to purchase a mid-efficiency model. On the other hand, a high-efficiency boiler could add value to your home when you're trying to sell it. - You may have some additional costs when you're installing a boiler, depending on your home and your circumstances. Replacing the chimney liner could cost $300 to $1,800. You might have to add or replace pipes. And removing the old boiler could cost $300 to $1,500. Some furnace companies, however, will remove your old boiler when they install the new one for free. Check the estimate for the additional fees you will have to pay. Some municipalities require a fire inspection and a recycling fee for the old boiler.
