Installing a wood-burning stove could be a good idea if you want to reduce your energy bills throughout 2024. Many homes trying to save money but find that using a sustainable heat source, like wood, is an appealing alternative, especially with energy prices on the rise this year. Continue reading as we compare energy expenses between the two and examine the financial and environmental advantages of making the conversion to a wood-burning stove.
Rising energy costs in 2024
The energy price cap, set by Ofgem, rocketed by £94 annually for a typical home paying by direct debit on January 1st, 2024. As a result, the average yearly bill increases to £1,928 from £1,834.
Additionally, the cost of electricity increased dramatically per unit. Gas prices jumped to 7p per kWh, while electricity prices went to 29p. The daily standing rates for gas and electricity have been raised to 30p and 53p, respectively.
The recent price increases are a continuation of the previous few years’ upward trend in energy expenses. Finding alternative heating sources, such as wood burners, is clearly enticing to many, especially with more instability predicted.
How much money could a wood-burner save you??
By installing a wood-burning stove, you may heat your house more sustainably and lessen your reliance on electricity or gas. Energy expenses can be considerably decreased with an efficient model.
The Energy Saving Trust estimates that converting to wood as a major heat source may save the average UK home anything from £260 to £720 annually. Savings, however, are contingent upon the age and effectiveness of your existing heating system.
You’ll probably save more money by replacing an outdated gas boiler with a new wood burner than by upgrading from a newer one. However, switching usually results in lower annual heating costs.
Cost of buying and installing a stove…
Before making a decision, you must account for the purchasing and installation expenses when comparing the energy expenditures of a wood burner with central heating. Depending on the model, size, and extras you choose, prices can change significantly.
A simple woodburner can cost anything between £500 and £1500, plus an additional £1300 to £1500+ for installation to HETAS regulations.
However, on the premium end, fully installed prices for certain sophisticated versions with ornamental surrounds can exceed £4,000.
Important running costs for a stove…
The primary expenses related to running a woodburner after installation are:
Fuel, which can be sourced from our sister company, James’ Firewood:
- Bag of Natural Firelighters – £6.50 each
- Bag of Kindling – £5.00 each
- Net bag of Softwood Logs – £8.00 each
- Net bag of Hardwood Logs – £9.50 each
- Net bag of Kiln Dried Logs – £10.50 each
- Bulk Bag of Softwood Logs – £95.00 each
- Bulk Bag of Hardwood Logs – £130.00 each
- 25kg Bag of Smokeless Fuel – £17.50 each
- 10kg Briquettes – £8.50 each
Chimney Sweep:
£75.00 – £100.00 per sweep, which is recommended to be carried out 1 – 2 times a year.
A rough estimate would be to budget about £500 – £750 each year for a small quantity of premium, kiln-dried wood and one sweep. As the appliance matures, additional costs could be incurred for parts replacement or repairs.
Keep in mind that expenses can be further decreased if you can source your own firewood, but just be careful on the quality to prevent damage to your stove.
Payback period
By comparing the energy expenses of wood and central heating, you may determine your “payback period,” or how long it will take to recover installation and operating costs through lower energy bills.
For instance:
Installation Cost: £1500.00
Annual Saving: £500.00
Annual Woodburner Running Costs: £500.00
Payback duration is calculated as installation cost / (running costs – annual savings).
Therefore, the £1,500 install cost would be repaid in this instance in about three years. You start to save money after this point on your past heating bills.
Secondary Financial Benefits
Making the switch to wood as your main source of heat has several important side benefits as well:
Added value when selling your house – Adding a chic wood-burning stove might raise the value of your property. Prospective purchasers find modern designs to be quite enticing.
Lower maintenance costs – Compared to a normal gas boiler and central heating system, wood burners require fewer parts. This could lower yearly maintenance and/or repair costs.
Therefore, using a wood-burning stove gives additional financial benefits during the appliance’s lifetime in addition to the savings you’ll see when you compare energy expenses.
Environmental Benefits
Using wood has sustainability benefits in addition to cost savings on heating:
Renewable energy – As trees grow, carbon dioxide is absorbed by wood, a renewable fuel. It therefore has less of an impact on the environment than fossil fuels such as petrol.
Lower carbon emissions – Compared to petrol or oil, wood burns highly effectively and releases fewer greenhouse gases per unit of energy. Your carbon impact is decreased when you replace a gas boiler.
Endorsing conscientious forestry practices – Choosing sustainable wood certified by the FSC or PEFC helps finance replanting projects in areas where logs are extracted. The ‘circular’ wood economy is maintained in this way.
Choosing wood to heat your house is more environmentally friendly and fits well with broader net-zero carbon ambitions. It’s a cost-effective and environmentally beneficial option.
Top tips for saving money on Woodburner running costs….
Once you install a wood-burning stove that is suitably sized and efficient, your biggest expense will no longer be fuel. To control spending, have a read of these helpful pointers:
- Use Hardwood Logs
Superior hardwood logs, such as birch or oak, burn for less money than waste softwoods, which use more fuel. Hardwoods burn with more heat energy because they have a higher calorific value per kilogramme.
Invest in seasoned logs that have less than 20% moisture content. When compared to freshly felled trees, dry wood burns more cleanly and effectively.
- Purchase wood fuel in larger quantities
Purchasing more logs at once can result in significant savings. A year’s supply paid for in advance can frequently result in savings of between 10% and 15%.
Organise local storage if you plan to purchase fuel pallets. Another option is to use a “wood bank” programme, in which substantial regional stocks of logs are distributed on a need-basis. As a result, transportation costs are reduced when purchasing in bulk.
- Make effective use of your Woodburner
When it comes to utilising your stove efficiently, practice makes perfect:
– Let the wood burn completely before shutting the door.
– Avoid ‘filling up’ tiny additional fuels over and over.
– Choose a cost-effective burn rate for the background heating.
– Before you leave or go to sleep, let the flames go out rather than fueling them too much.
By tracking the fuel consumption over time, will allow you to enhance the stoves running habits.
- Insulate your home
Plug leaks and lagging pipes to keep valuable heat from escaping. Enhancing insulation lowers the amount of heat your stove needs to produce:
– Use flexible fillers to seal any cracks in walls or flooring.
– Put up thick drapes and cover wooden floors with rugs.
– Increase loft insulation to a depth of at least 270mm.
In older homes, start by focusing on draughty doors and windows. Retaining heat results in reduced fuel combustion.
- Service your stove annually
Make sure your wood burner is operating at peak efficiency by scheduling an annual professional service and inspection. Early repair of little faults such as air leaks helps avoid larger fuel-wasting concerns down the road.
Depending on your model, it also passes safety testing and warranty requirements.
- Regularly clean the Flue & Chimney
Tarry soot deposits from burning wood within flues build up over time. These are removed when the chimney is swept by a professional, improving efficiency and safety:
– Enhances the flow of flue air
– Lowers the possibility of harmful chimney fires
– Reduces emissions with recently cleaned pipelines
Most stoves require sweeping one to two times a year, depending on usage.
- Reuse wastage Ash
Keep the ash remnants from burned wood for a while. Ash contains potassium and calcium that, when cooled, work well as fertilisers for farms and gardens.
Give away any leftover ashes to enthusiastic gardeners or allotment owners, or use them yourself to reduce the need to purchase manufactured goods.
- Take into consideration Multifuel options
Certain modern stoves permit the burning of non-traditional fuels in addition to logs, such as smokeless coal or briquettes. This increases flexibility in case logs become hard to come by or too expensive at a particular time.
Being able to use multiple fuels allows you to take advantage of the best deals on solid fuels from season to season. But make sure the chosen fuel satisfies clean emissions requirements before utilising it.
Invest in a new wood-burning or multi-fuel stove this year to save your heating costs…..
Are you prepared to start using a wood burner to heat your house more affordably this year? See our selection of eco-friendly, high-performing stoves to select the ideal model for your house.
In need of assistance? You can contact our friendly, experienced staff by phone on 01706 813393 or by email at sales@bowlandstoves.com.
