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Despite the upfront cost, furnace replacement can save you money throughout the heating season. Replacing your air conditioner at the same time can, too, even if you won’t use it again for months. But with the need for heating coming into clear focus, let’s see how a new furnace can help you save. We’ve looked at some important furnace replacement considerations. Here’s an in-depth perspective of how a new unit can cut expenses this winter.
- Avoid Additional Repair Costs
- A Reduction In Energy Consumption
- High-Efficiency Furnaces Are Available
- Eliminate Emergency Breakdowns
- No Health and Indoor Air Quality Hazards
- Fewer Thermostat Adjustments
- Technological Improvements Can Yield Savings Over Time
- New Furnaces Work with Smart Home Devices
- Heating Improvements Can Increase Home Value
- Rebates and Other Financial Incentives
1. Avoid Additional Repair Costs
After a decade or more, a furnace may need repairs to address various problems. A repair once a year doesn’t warrant replacing the unit. But capacitors, thermocouples, ignitors, gas valves, and other components wear out and malfunction over time. Blower motors, heat exchangers, and circuit boards also eventually go bad. Each repair call involves paying for parts, materials, labor, and other service charges.
If you need a repair tech every few months, furnace replacement may be less costly. Be sure to ask your local heating contractor for advice. They can analyze the expenses of fixing or replacing your furnace. For example, if a repair costs more than half the price of a new unit, a technician may suggest replacing the old one.
2. A Reduction In Energy Consumption
Improved energy efficiency is one of the top reasons to consider furnace replacement. Furnaces become less efficient as they age. Worn parts cause them to work harder. A newer model eliminates such issues, and it’s designed to use less energy to heat your home. Once your furnace is professionally installed, you should notice the difference in your energy bill immediately, even when it’s colder outside.
3. High-Efficiency Furnaces Are Available
A high-efficiency furnace produces the same amount of heat but without consuming as much electricity or gas. Look for heating units with a high Annual Fuel Utilization Efficiency (AFUE), which is expressed as a percentage. A 90% AFUE furnace converts 90% of the energy it uses into heat. By comparison, mid-efficiency systems range from 80% to 83%. Meanwhile, some of the highest-efficiency models can have AFUE ratings of up to 98.5%.
4. Eliminate Emergency Breakdowns
Emergency callout fees can be two to three times a contractor’s normal hourly rate. Some heating repair companies also charge an additional fee to send out technicians during off hours. If you’ve had several heating emergencies, buying a new furnace may be cheaper than going down this road. It’ll avoid any further emergency calls. When installed correctly and properly maintained, a brand-new model may go many years without problems.
5. No Health and Indoor Air Quality Hazards
A malfunctioning furnace can put your family’s health at risk. The most serious concerns are issues with ventilation or combustion, which can result in a carbon monoxide leak. High levels of carbon monoxide can trigger severe illness and be deadly. Therefore, furnace replacement can protect the health and lives of family members and yourself.
From a cost perspective, a new furnace can avoid paying for repairs. It can also prevent costly doctor visits, hospital stays, and other medical expenses due to gas leaks or heating-related issues. Some furnace problems may increase dust and pollutants that can trigger allergies, asthma attacks, and respiratory conditions that require medical care, all of which replacing the unit can avoid.
6. Fewer Thermostat Adjustments
More even and consistent heating avoids having to adjust the thermostat as often. This can reduce the chances you’ll need to call a heating contractor for urgent repairs. Fewer adjustments lessen the amount of work and strain on the system. They also keep energy consumption in check. The fewer increases or decreases in temperature settings made, the less your furnace must work to meet the demand.
7. Technological Improvements Can Yield Savings Over Time
Newer technology is one reason to replace your heating and cooling systems together. Aside from efficiency improvements and maintaining the warranty, there are other benefits. For example, newer models work with programmable thermostats, so you can choose temperature settings for certain times of the day. The system will automatically adjust to them.
Smart thermostats can learn your schedule and be controlled remotely via smartphones and other Wi-Fi devices. This reduces energy usage at times when you don’t need heating. Furnace replacement can also save you money if you upgrade to a zoned HVAC system. Zoning allows you to heat just certain rooms or parts of your home. Or, occupants can adjust the temperature based on their individual preferences. It can save on your heating bill, especially in a larger house.
8. New Furnaces Work with Smart Home Devices
Integration with smart technology in general, including voice-activated assistants, tablets, and sensors, helps improve efficiency and save money. You can link a furnace with just about any smart device or hub. This enables the unit to turn off when you leave or back on when you’re on the way home. Other technologies gather data on system usage and efficiency. They can alert you of any changes in performance or signs it needs service, allowing you to call an HVAC contractor before the unit breaks down.
9. Heating Improvements Can Increase Home Value
Your investment can increase your home’s resale value, especially if you buy a high-efficiency furnace. A homebuyer may see a new furnace as an incentive to invest in your property. Lower energy bills and not having to purchase a new heating system later can be enticing. According to Angi, a new HVAC unit can add up to $3,000 to the value of your home.
10. Rebates and Other Financial Incentives
Numerous incentives can make furnace replacement less expensive. Manufacturers and dealers often hold sales and seasonal discounts. They may also offer product rebates. Or, your local utility company may issue a rebate for installing a high-efficiency heating system. In addition, you may qualify for a federal tax credit for the year the furnace is installed. It can amount to a few hundred dollars.
Combining these incentives can significantly reduce the financial burden of installing a new furnace.
Schedule Furnace Replacement with Sky Heating & Air Conditioning
If you have an aging furnace requiring costly repairs, our licensed heating professionals will help select and install a new furnace to save you money this winter. We provide options based on your needs and budget. Custom installation ensures you have a reliable and efficient home heating system. We also partner with reputable manufacturers of energy-efficient, eco-friendly products. When you’re struggling with whether to repair or replace your furnace, our team helps you find the most affordable solution.
Call (888) 927-3943 or contact us online for expert help with furnace repair or replacement in Portland.
