Is Living with a Wood Burning stove Worth it – Money Wise
Summary of the average costs
Purchase of the Wood Burning or Multi Fuel Stove - £900
Installation including minimal flue work - £1000
Total 1off costs £1900
Running cost per year - £600
SO IF I’m saving £700 worth of Gas and the stove and flue lasts 19 years then I’ll have broken even.
If the price of Gas rises faster than the price of wood it will pay back even quicker.
Compare this with my real life situation.
Remember I mentioned we had a Condensing boiler. So our Heating is fairly efficient to start with. If your current heating is inefficient then the comparison figures will look better.
Here are the real life consumption figures before and after running the wood burner.
Before running a wood burner, our gas consumption
Total gas consumption 18456 kW per year @ 4.85 p/kW = £895
For Hot water and Cooking (est) 4000 kW per year @ 4.85 p/kW = £195
Therefore for Heating 14456 kW per year @ 4.85 p/kW = £701
Looking good, the break even of £700 is on the table, just. All I need to do is make sure the heating never comes on. That would mean getting up early in a cold house and lighting the fire. We’ve not reached that level of dedication yet (more about that later)
After running a wood burner, our gas consumption
Total gas consumption 12,297 kW per year @ 4.85 p/kW = £596
For Hot water and Cooking (est.) 4000 kW per year @ 4.85 p/kW = £195 (same as before)
For Heating 8297 kW per year @ 4.85 p/kW = £402
Therefore saving us on gas £299