Biomass boiler cost | The Renewable Energy Hub
 

Biomass boiler cost


How much does a biomass boiler system cost?

An automatically fed pellet boiler for the average home will cost on average $19,000 including installation, flue, fuel store. A log boiler is slightly cheaper at an average of $15,000 while an individual pellet stove is approximately $5,500.

Fuel costs may vary dramatically but will generally cost less per kilo depending on the size of the order. So the larger fuel store you have, generally the more you will save over time. Each state generally has its own local supplier and prices will vary from region to region.

Biomass boilers are not cheap and can cost up to three or four times more than a standard fossil fuel boiler. Nonetheless, the total cost of biomass systems varies between types, manufacturers and installers. These costs are for small and medium scale biomass systems which are suitable for homes and businesses. For example, a standard 3-bedroom home’s energy requirements would be fulfilled by a 15kW system.

Installation costs of larger biomass systems vary massively and can be comparatively much higher than those of smaller systems, especially considering many such systems require a degree of building work.

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Other Funding Sources for Biomass Boilers

Biomass boilers are eligible for the federal tax credit of 30% and many states now offer similar incentives that reduce the initial installation price. For business and homes across the US, there are also a number of low cost loans. Business, municipal and agricultural concerns can often benefit from grants in addition to federal and state loans.

Find out more about incentives for biomass boilers in your state

 

Finance Options for Biomass Boilers

There are a number of companies offering finance for biomass boilers in the United Kingdom. Finance, in the form of loans and leasing agreements, is available for domestic, commercial and industrial installations, in both the private and public sectors. Finance for renewable energy technologies allows customers to avoid large upfront costs and make payments out of the income earned from government schemes such as the Renewable Heat Incentive, as well as energy bill savings.

Finance may be offered on a range of bases, each offering varying levels of financial risk and reward, as well as varying interest rates. Typically the finance company will provide the renewable heat technology and its installation in return for payments spread over a period of time. Depending on the type of agreement, the client may either come to own the technology at the end of the period, it may be sold by the company with the proceeds being split between client and company, or the finance company could retain it.

The arrangements offered by finance companies will vary, however, and each will offer different advice. It is therefore advisable to obtain quotes and agreement terms from a range of companies, based on your energy/heating needs and financial situation.

Look here for some UK companies offering finance for biomass systems.

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