Can You Save Money by Replacing your old Furnace?
Energy prices are spiraling out of control. That trend will continue in the coming years. We're all looking for ways to cut utility bills. In this post, you will learn how a new energy-efficient furnace may save you plenty of money.
First, we will examine how recent advances in technology result in vast energy savings. Second, we will consider several other advantages of a new furnace. Third, you will learn about significant federal tax credits when converting to a more efficient furnace.
Recent Technology Translates To Huge Energy Savings
In the past few years, technology has transformed the efficiency of newer furnaces. Only 10 years ago, heaters were operating at 78% efficiency. An older heater could be operating at 60% efficiency or less. Today, the highest quality heaters boast 95% efficiency.
What this means for an older furnace is that for every dollar you pay for energy, only 60% of that energy may actually be used to produce heat. The rest is wasted. Not very efficient at all. Today's top heaters, with a 95% efficiency, waste remarkably little energy. They convert into heat nearly all energy for which you pay.
Compare the old furnace with 60% efficiency to a modern to a modern high efficiency furnace with a 95% rating. How much reduction in fuel costs do you achieve? The answer is nearly 40 cents on every dollar!
You can already see substantial savings resulting from the increased efficiency. But there are several other factors to consider…
Other Advantages Of A Modern Furnace
Increased furnace efficiency is not the only reason you're fuel costs will be driven down. Other factors include longer furnace life and fewer repair bills. In addition, a new heater will make you much more comfortable, as the heat distribution will be more dependable.
New natural gas furnaces are much better designed and can last from 20 to 25 years. During this time, with routine maintenance they will continue to provide dependable and efficient heating.
Older furnace units generally last from 10 to 12 years before requiring replacements or serious repairs. Repair costs of old heaters will run a minimum of $50 and can climb into many hundreds of dollars. What's more, these repairs are probably not permanent, and the heater will soon require more maintenance.
Over time, your older furnace will become less dependable, and its heat output will diminish. This can result in your heater running almost nonstop during cold winter months. In spite of this, the lower temperature can make your house feel colder.
As you can see, a modern furnace has many advantages other than higher efficiency. It will last longer, repair bills will be much smaller, and it will be much more dependable. A high-efficiency furnace will be pumping out warmth years after an old furnace dies.
Federal Tax Credits
Still unsure if savings resulting from buying a high-efficiency furnace are enough? The federal government will give you significant tax credits to help with your purchase.
You can save up to an additional $500 from these tax credits. You can claim these tax credits with forms available from the IRS. This is part of the government's “going green” campaign. It is an incentive for Americans to install appliances that are more environmentally friendly.
Finding The Right Fuel-Efficient Furnace
You should get a professional furnace inspection. A reputable merchant who installs furnaces will give you an honest evaluation to determine if buying a new furnace will save you money.
The professionals at Auchinachie Plumbing, Heating and Air can help you with your decision. They've been in business for over a century and only focus on high quality furnace installations.