Does a High Efficiency Furnace Really Save You Money?

People are always looking for ways to save money, particularly during the winter. Let’s face it; heating your home is expensive.

So when it comes time to replace their furnace, the biggest question is: will a higher efficiency one actually save you money?

You Could Save $270/Year – or More – on Your Heating Bill

The best way to figure out if a high efficiency furnace is worth it is to break down the numbers.

Let’s say the average homeowner in Toronto spends approximately $150 a month on heating and cooling, and your furnace has an Annual Fuel Utilization Efficiency (AFUE) of 80. This is common for most furnaces purchased more than ten years ago.

An AFUE of 80 means that for every dollar you spend on heating, 20 cents is essentially being wasted.

When you’re ready for a new furnace, you upgrade to a high efficiency furnace with an AFUE of 95, a common rating for the furnaces of today, and just above the government-required AFUE of 90.

This translates to about $22.50 a month in savings (15% of $150). That doesn’t sound like a lot until you add it up over the years. Since a well-cared for furnace has a lifespan of 15 years or more, you’ll more than make up for the higher upfront costs of purchasing a higher efficiency furnace.

Bonus: There are some programs in place that offer rebates when you upgrade to a more efficient furnace model. Talk to your HVAC retailer about what’s available to see if you can get even more savings.

Use Resources and Tools to Get a More Accurate Estimate

Remember, each home is a little different when it comes to heating costs, and the above numbers were calculated based on one set of numbers.

In reality, some estimates say that you could save up to 40% on your heating bills. That’s why you should:

  • Use information from your gas bill and current furnace for more accurate calculations.
  • Talk to an experienced HVAC technician – they’ll be able to help answer questions you might have about the furnace itself.

Benefits of High Efficiency Furnace

While money definitely talks, an upgraded furnace offers more than just savings.

Rest Easy Knowing Your Furnace is the Best

A new furnace means you’ll be confident in your heating system this winter.

With annual tune ups and proper care, you’ll be able to rest easy every night knowing that your furnace is one of the best, and you won’t wake up at 4 AM with no heat in -25 degree weather.

Your Home Will Be Quieter

Do you groan internally – or out loud – when your furnace turns on, and prepare yourself for the rising noise level? You shouldn’t be torn between your love of a warm house and your wish for silence.

High efficiency furnaces are much quieter, thanks to those leaps forward in technology! After you install one, you won’t be disrupted every time it kicks into gear.

You’ll Be Helping the Environment

High efficiency means that your new furnace will also be a little better for the environment. Not only will you be warm, but you’ll feel good about making a more environmental choice.

Talk to Us About Getting a High Efficiency Furnace

Once you’ve decided to join the high efficiency team, you have to pick the right high efficiency furnace. We want to save you money, but we also want to make sure that the furnace we install is one that will fit your home.

Come talk to us about our many available models, and we’ll help you choose your next furnace.

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