a new boiler

[geordief]

I have an old oil fired boiler that runs a house with about 20 rooms.
I would say that it is about a metre cubed.
I have been advised that it is wasting me oil and I should have it changed to a newer one that would repay the investment in double quick time.
However I have since been advised by a professional to leave it be as it is still working.
Could he be right?
With it's strength of construction I can see it would possibly last another 40 years(its present age I am guessing).
But I was under the impression that a new one would be mightily efficient and that would account for the savings (a no brainer apparently)
But with this latest advice I am starting to wonder if I can duplicate those savings to a large extent by lagging the boiler and the adjoining pipes.
Am I just wasting my time even considering this and will a newer, smaller more efficient boiler be much more cost effective no matter how well I insulate this old boiler?

 

[Agile]

You dont say where the boiler is fitted and how many rooms are heated.

Generally the efficiency gain with a new oil boiler is rather less with oil but it will all depend on the fuel bill.

Say a new boiler costs £4000 and your annual oil bill is £8000 then you only need to save 12.5% for four years to pay for it.

All pipes for any boiler should always be fully lagged.

Tony