Woodburners have been the “in” thing for quite some time now; not only for their ecologically friendly properties, but also for their purported money saving powers! There are a number of government incentives around at the moment to encourage households to switch over to wood fuelled heating appliances, which offer help with installation costs for some people. The figures relating to how much cash a typical household could save can however be somewhat confusing.
Most of this confusion arises from the fact that your savings will vary enormously according to what heating system you currently use and your access to fuel once you do install a woodburner in your home. Logs, especially seasoned logs, can cost a lot of money to buy and unless you have your own source (i.e. a forest!) then you’re going to be shelling out a substantial amount of money on a yearly basis for your fuel bills. That defeats one of the main reasons people buy woodburning stoves in the first place: to save money!
Seasoned logs take two years to mature, which also involves the cost of both storage and harvesting – both of which can rack up the price significantly. Unseasoned wood isn’t an option as it’s terrible for your appliance and you won’t be getting the most out of it. Pellets are much cheaper to purchase than seasoned wood, so if you’re looking to save money then they’re definitely worth looking into. Finally, some people use scavenged wood that they then put through the seasoning process. Again though, this requires a substantial storage area. Ultimately it’s best to put some research into your options before you delve into the wood burning stove buying process and figure out a round-about cost you’ll be paying once it’s installed.
For more ideas on where to get free or cheap wood for your woodburner, read our article.
How Much Can Woodburners Save You Annually?
Whatever you use, home-owners are set to save you quite a bit of money in the long-run. We can discover these potential savings when we take a look at homes that don’t have woodburner installed. Here are the figures we calculated.
- Gas: If you currently have gas central heating with your gas coming from a mains supply then you could make a saving of around £90 per year if you install a woodburner in your home. This is set to increase should the rise in gas prices continue.
- Electricity: If your home is heated with electricity then your savings could amount to £630 per year, which is a substantial amount of money!
- Oil: Homes heated with oil can look forward to saving £270 per year if they make the switch.
These are all quite significant amounts of money, and not many people can honestly say that such an amount would not make a difference to their weekly budget. Even spread out over a year, the figures would make a huge difference to an average family on a basic wage.
The initial costs of installation will of course take up your “profit” for a couple of years, but on balance the overall savings are definitely worth the initial outlay. You should also find out if you qualify for any of the government schemes designed to help with the costs of installation, but be aware that in order to qualify you must use one of the woodburners which are listed as acceptable – not all are – as the government is strict about this.
Your family could be reaping the benefits in as few as three years after installation. As the figures above show, it’s definitely worth the upheaval!