25kW capacity
£10k to supply and install in boiler room.
Assuming RHI incentives come through OK then it might generate between £500 and £750 pa index linked for the next 20 years in payments.
The pellet boiler is about 89% efficient when burning pellets.
Pellets are in the range of 4.7 – 5.1 kWh/Kg
Cost is about £2.35/10Kg bag incl VAT
So per kWh of energy output it’s
£0.235 / 5.1kWh x 1/89% = 5.1p/kWh
Heating oil has an energy density of 11.8kWh/Kg and a density of 845Kg/m3 which breaks back to 9.97 kWh/L
If you pay 55p/litre for your oil and your boiler is 90% efficient, then your energy output is:
£0.55 / 9,97kWh x 1/90% = 6.1p/kWh
Since wood inflation is going to be below oil inflation for the foreseable, RHI’s are more than likely going to be paid at some rate anyway, and the system is already more efficient in terms of £ per kWh output, then I reckon it will work out well in the longer term despite the hefty capital cost.
Of the £10k price on the way in, you can assume that a similar capacity oil boiler with fuel tank, thermal store and pipe work might cost about £2500-£3000 I suppose.
The thermal store makes it suitable for phase II which is the solar water panels. I think Im going for about 3kW for around £1k. These also get an RHI payment, probably somewhere up to £100 a year, index linked, for x yrs (10 is it?) but they obviously provide free energy for the summer months and also reduce the net cost of energy during spring and autumn a bit too but Ill have to do the maths for that once they are installed and I can measure their performance.
They should be going in in the next few months.