The term “boiler efficiency” is often substituted for thermal efficiency or fuel-to-steam efficiency. When the term “boiler efficiency” is used, it is important to know which type of efficiency is being represented. Why? Because thermal efficiency, which does not account for radiation and convection losses, is not an indication of the true boiler efficiency. Fuelto-steam efficiency, which does account for radiation and convection losses, is a true indication of overall boiler efficiency. The term “boiler efficiency” should be defined by the boiler manufacturer before it is used in any economic evaluation.