Despite the increases in the cost of heating oil over the last few years, it is still a popular way to heat a home. Whilst in a lot of cases, home owners who use heating oil are in areas off the gas grid and have little choice but to use oil, the increasing use of alternative energy hasn’t led to a decrease in oil boiler sales that one might expect.
OFTEC stated in the first quarter of 2013 that oil boiler sales were up 22% on the same period last year. This was partly driven by the extended cold winter which resulted in more breakdowns than normal, but it wasn’t the only cause.
Grants and Renewable Solutions Also Drive Oil Boiler Sales
The introduction of a number of grants from government and other agencies to help households replace their oil boilers with more modern and efficient alternatives has certainly driven oil boiler sales. With some schemes offering to cover the complete cost of boiler replacement, some householders can make long term savings by switching to a more efficient condensing oil boiler. With modern oil condensing boilers offering efficiencies of between 92 and 93 percent compared with older models that were typically in the range of 60 to 70 percent, households will see an immediate cost saving on heating oil. More information about grants can be found at http://www.energysavingtrust.org.uk/
The ONS also reported recently that heating oil consumption, along with gas and electricity has shown a steady fall since 2005 as consumers look to ways of reducing bills. The effect of ever increasing prices for heating oil, gas and electricity has made users more aware of energy efficiency and resulted in an increase in oil boiler sales as a new oil boiler is obvious an way to achieve greater efficiencies.
The increasing use of renewable energy for domestic purposes also offers heating oil users more options to combine their new, more efficient oil boiler with technologies such as solar, heat pumps or combined heat and power (CHP) to bring further savings. So, whilst heating oil users may in the past have looked at removing their oil fired boiler altogether, now they are looking at other ways to make their system as efficient as possible. In addition, the cost differential between heating a home with oil and gas is narrowing as gas prices increase faster than heating oil.