After watching your gas bills steadily climb month after month all winter, you want to do everything you can to bring it back down and put some money back into your wallet.
That’s where a high efficiency furnace comes in. If you’ve been researching ways to save, chances are you’ve come across the recommendation that you make the switch. But is a high efficiency furnace worth it?
How Much Will an 80 vs. a 95 AFUE Furnace Pay Back?
In Ontario in 2018, a household will spend approximately $1,226.92* on natural gas, the primary source of heating. For the purposes of this article, lets round that up to $1,227.
Once you calculate your bill, you next need to find the annual fuel utilization efficiency score (AFUE) of your current furnace. This can be found on your furnace label or in the user’s manual for your own calculations.
Most older furnaces have an AFUE of 80. That means that 20% of your heat – and money – is being wasted. Using an AFUE of 80 and a yearly bill of $1,227, that’s about $245 dollars a year.
That’s a discouraging number to see. But there is hope: an upgraded furnace has to have an AFUE rating of 90 or higher, which means you’re going to see savings no matter what.
We recommend to everyone who buys a new furnace that they upgrade to something with a 95 AFUE or higher, to get the most savings possible. To calculate those savings, simply multiply the difference in AFUE (95-80 = 15%) by your monthly or yearly bill amount.
1,227 x 0.15 = $184/year in savings.
The Savings Add Up
We know that doesn’t seem like a lot, but think about how much you were wasting before! And when you add those savings up over the lifespan of your furnace – which can be as long as 15 years with the proper maintenance – you could see over $2,750 in savings!
If you get a furnace with a 98 AFUE, that’s $221 a year in savings. That means over $3,300 over the course of your furnace’s life. And we’re sure you can find all kinds of good uses for that money!
*Please note: This figure and the following calculations are based on approximate collected data adjusted for inflation. If you would like to get a more exact estimate of potential savings, you will have to use your own information from your gas bills and furnace. This bill calculator can help >
What Can I Do to Make Sure My New Furnace Stays Efficient?
Once you go energy and cost efficient, make sure you stay that way. A furnace will experience wear and tear over time, and you need to stay diligent if you want those savings. Here are some tips to keep your furnace as efficient as possible.
1. Get An Annual Maintenance Check
A well-cared for furnace is a productive and happy furnace. In fact, a tune up can increase your furnace’s efficiency by 20% (or sometimes more). Check out our infographic with all the information* >
Bonus: Regular maintenance can also increase the lifespan of your furnace, which means you won’t have to replace it as often.
*Calculated amounts in this infographic are based on 2014 data.
2. Use Your Programmable Thermostat
Your programmable thermostat will be your best friend when you use it to its full capabilities. Keep the house cozy when you’re in it, and slightly cooler when you’re out so you don’t waste money and energy on heat you’re not getting to appreciate.
3. Keep Your Furnace Filter Clear
This is something you can do yourself, and it’s something you should be doing on a regular schedule. Too much dust and dirt clogging up the filter will cause your furnace to work harder, leading to decreased efficiency.
Upgrading is Surprisingly Affordable
We know what you’re thinking: the savings are fantastic, but that doesn’t minimize the cost of upgrading and installing a new furnace. How can I make upgrading more affordable?
It’s true: upgrading a furnace isn’t free. But there are some great rebate programs we offer that can help reduce the cost and make getting a high-efficiency furnace not only possible, but a no-brainer!
So Is a High Efficiency Furnace Worth It? Absolutely!
Is a high efficiency furnace worth it? Definitely! We offer a variety of models that will get you the savings you want, and when you book regular tune ups with us, we’ll help your new high-efficiency furnace stay just that.I’m Ready to Start Saving