New High-Efficiency Furnace Save Money?
Many people wonder if installing a brand new high-efficiency furnace in their home is really going to save them money, and the answer in most cases is yes, it will.
If your current furnace is an old model or mid-efficiency model, then upgrading to a brand new high-efficiency furnace will save you some extra bucks on your utility bill. As the years go on, a furnace may become less efficient which is why an upgrade from your old furnace may be worth the money.
Older models of furnace tend to be around the 80% efficiency range. What this means is that for every dollar that is spent on gas/propane, 20 cents is wasted. This means that you are wasting one fifth of the money you spend on converting energy into heat.
On the other hand, a new high efficiency furnace should range between 92 and 98 percent efficiency. With an upgrade from your old 80% efficiency furnace to a new high-efficiency furnace you are instantly saving money.
If you’re interested in finding out your furnace’s current efficiency rate, you can simply ask a reputable heating and cooling contractor like DeMark Home Ontario to perform an efficiency test on your furnace.
Another thing to take into consideration when calculating how much you will be saving with a furnace upgrade is that a new high-efficiency furnace would be saving you money on repairs with its available warranty unlike an old furnace with an expired warranty.
The efficiency level of a furnace is not the only option to save money with an upgrade. Furnaces have fans, some are simple and are either on or they are off. When this fan is on it is running at its full speed, blowing air through the ducts. There are also other types of fans called variable speed fans. A variable speed fan can adjust just how much air is being circulated and is moving. This type of fan can slow down to save energy and only uses the amount of energy necessary to heat the home to your desired temperature. A variable speed fan will save you money on your electrical bill by always running the fan at its full power.
An upgrade to a new high-efficiency furnace can also save you money through rebates. Many utility companies offer rebates to those who upgrade to a new high efficiency furnace. The amount you receive depends on the type of furnace and the utility company. You can receive $250 in IESO Rebates when installing new High-Efficiency Furnace between Jan 1, 2017 and Dec 31, 2017.You will receive a:$250 incentive when you replace your existing furnace with new high-efficiency furnace (eligible model) equipped with an ECM (Electronically Commutated Motor)
Your brand new furnace, just like your old one, should have a long life, usually between 14-18 years as long as it’s regularly maintained. Even with good care, as equipment ages it will become less efficient, less dependable, and thus require more repairs. Repairs can often be expensive and end up costing you hundreds of dollars for an impermanent solution.
Upgrading to a new high efficiency furnace will not only save you some hard earned cash, but it can also elevate the comfort in your home tremendously. DeMark Home Ontario specializes in all of your heating and cooling needs. A furnace replacement with DeMark Home Ontario is only a phone call away and we can have your brand new high efficiency furnace installed within 24 hours with our same day emergency service.
DeMark Home Ontario can provide you with high-efficiency furnace rental in no time, and we will even dispose of your old equipment. Should you wish to schedule free in home estimate or speak to one of our consultants please feel free to contact us at 647-847-2998 or fill out our online enquiry form and we will get in touch with you as soon as possible.