Yahoo Finance Brits could be losing £305 a year as demand for new boilers plummets
Many Brits could lose hundreds of pounds and be left in this cold this year by failing to upgrade or service their boiler, research suggests.
There was an overall 34% year on year decrease in people installing, servicing or repairing boilers in 2020, with gas boilers down by 36% and electric boilers by 25%, according to data from find-a-tradesperson service Rated People.
Estimates from price comparison sites suggest a new boiler could save a detached house up to £305 ($418) annually on its heating bill – meaning Brits could be losing hundreds of pounds a year, as well as struggling through winter with less effective hearing.
Also, over half (55%) of what household spends on energy will come down to heating. So a new boiler can be a worthwhile investment for those looking to save on their heating bills.
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Not only could neglecting boilers cost households significant sums of money each year, but there are also important health and safety factors to consider as well.
Not only could a failing boiler could deprive a home of heating and hot water, a regularly servicing the unit ensures it is combusting fuel safely, considerably reducing the risk of carbon monoxide poisoning.
While it's understandable that many people cut back on spending in 2020, neglecting your boilers may end up costing you more in the future, Rated People warned.
READ MORE: Householders urged to check for boiler breakdown cover as temperatures plunge
“It's better to think of upgrading and maintaining your boiler as an investment that can pay dividends in the long run,” said CEO Adrienne Minster.
“Should your household heating be one area where you are spending a bit too much, and you have the space for a bigger boiler, you might want to consider using the government’s Green Homes Grant scheme, which can offset the cost of switching to a biomass boiler.
“Tradespeople will be able to advise you on which options are best for you.”
WATCH: The £2bn Green Home Grants scheme explained
