Are You Ready To Throw Out Your Furnace?
/June 10, 2008
Are you ready to throw out your furnace?
Are you worried about soaring energy costs? Frustrated by the feeble excuses from the government and the oil companies?
If you heat your home with oil, your burning question is probably “Should we get rid of our oil furnace?”
The answer is yes, and no. Upgrading your system may be the answer. It will increase your comfort, and save you a lot of hard earned cash
You can reduce your heating bill by making some of these changes right now.
To recover your conversion costs quickly, consider:
- Programmable thermostat. This is the cheapest measure available, and you will save its cost many times over. Unit cost is $30 to $300.
- Flame retention burner. Change from your old burner to the new flame retention type. This can provide significant savings. Unit cost is $400 to $600.
- New high efficiency units. Upgrading your old gas or oil furnace can save you 15% to 25%. The payback is 2 to 6 years.
- Convert to gas. Gas is clean, convenient, reliable and safe, but the conversion is expensive. However, it may not be available in your area and savings may not be significant.
- Bi energy. Some areas have subsidies to help owners convert. An example is Hydro Quebec. Heat pump additions may also qualify, which is more good news.
- Heat pump addition. If you have recently invested in upgrading your forced air heating oil or gas furnaces and want to save even more, this is a great option. The payback can be 4 to 6 years, but your heating bill will be cut by approximately 60%. You can make a big difference in your savings by choosing the right heat pump. Some pumps work to -17C while others only work to -12C. Since an average pump is about $6000, it’s important to do your research.
- Geothermal. This may be the best “green” energy option available today. It’s very expensive initially, costing about $15,000 to $25,000. However, savings can be 80% and payback time as little as 5 years. It also works best if you have a forced air or an under-the-floor hot water radiant system. It is not a good option for a hot water radiator system. The rule of thumb is that the energy needed to heat a home is 20 to 30 % compared to regular baseboard electric heating. This option is expanding 40 to 55% annually in Canada, partially due to generous federal subsidies ranging from $200 to $5,000, and provincial subsidies such as Hydro Quebec’s $2000 to $6,800.
The bottom line?Even if your home heating system runs smoothly and efficiently, modernizing your system will increase your comfort – and save you a lot of hard earned cash.
Call Mose Home Inspection Services today. We’ll help you choose the right option for you.