How would you like to start out this winter season with a new furnace humming happily as it sends out heat?
Who wouldn’t, right?
A Canadian winter is no joke. And it is no fun if every rumble and grumble from the furnace corner has you assuming the worst!
Each year for exactly this reason, Shipton’s runs our fun and locally famous Golden Savings Scratch-and-Win Event. The prizes include a chance to win up to $1,000 off your total purchase of a furnace, A/C and/or hot water heater combo.
Read on to learn how upgrading to a new furnace or furnace and A/C combo can save you a bundle this winter season…even beyond the potential for a $1,000 cost discount.
How Old Is Your Furnace on the Inside?
The average furnace has a useful life of up to 15 years if it is well maintained and the filter is changed every month during high-use seasons.
But these are two big “ifs,” as you likely already know if you have inherited a furnace along with your home purchase. The age of your furnace on the manufacturer’s receipt may not be the same as the actual age of your furnace on the inside.
Did the previous owners inspect and maintain the furnace well? Did they change the filters before they got dirty enough to clog the internal components? If they didn’t, your furnace may be much older than its years.
The best way to get an accurate assessment of your furnace’s actual age is to schedule your annual furnace safety inspection and preventative maintenance service.
If your furnace is still in basically good condition, doesn’t need any major repairs and is between 5 and 10 years old, you are probably safe to hold on to it and just continue with a schedule of annual preventative maintenance.
For the sake of the unknown and your home repairs budget, we also often suggest enrolling in one of our money-saving annual preventative maintenance protection plans designed for older furnaces.
Is Your A/C Nearly Ready to Go?
Central HVAC systems are typically sold as paired units. This increases the efficiency and output of each individual component and also ensures compatibility of filters, features, fans and functions, including the addition of third-party equipment such as heat recovery ventilators, HEPA filters, U.V. air purifiers and humidifiers.
In other words, you really don’t want to break up your A/C and furnace. You want to buy them together as a unit and replace them together if at all possible.
Where this can get complicated is when you are looking at the useful life of the typical A/C versus the typical furnace. They are not the same. The typical well-made, well-maintained A/C unit lasts about a decade before it needs replacing. The typical furnace, as you just learned, can last up to 15 years before it needs replacing.
So when your A/C unit is showing signs of retirement, this is a good time to consider replacing your furnace as well, even if it is not quite ready to be replaced.
How You Can Save Money Replacing Your HVAC Components Together
According to the Energy Star program, replacing your A/C unit will save you up to 20 percent on annual cooling and heating costs.
As well, replacing your furnace with a new energy-efficient furnace will net you an additional 15 percent gain in efficiency (i.e., your new furnace will draw up to 15 percent less energy to do the exact same job).
This adds up to a whopping 35 percent savings on annual cooling and heating costs.
So what does this 35 percent savings look like in terms of what you have to spend annually to cool and heat your home?
According to FAO-Ontario, the typical homeowner in Ontario spends around $2,358 per year for energy. So we will use that as our benchmark cost and you can adjust as needed to reflect your actual annual energy expenses.
Natural Resources Canada tells us that, on average, 64 percent of that $2,358 in energy expenses goes just to cooling and heating the home. Sixty-four percent works out to $1,509 per year for heating and cooling expenses.
Now it is time to take a look at what you will spend if your heating and cooling equipment is 35 percent more efficient. Thirty-five percent of that $1,509 is $528 per year back in your pocket for every year you use your new HVAC combo.
The national average cost range as of this year is between $4,820 and $9,350, which includes both a new furnace and a new A/C unit plus professional installation, which is a requirement for two reasons: it will ensure you reap the full energy efficiency savings your new system can provide and it qualifies you to receive all available energy efficiency upgrade rebates or credits.
Plus, you can potentially save up to $1,000 off the top by playing our Scratch-and-Win Golden Savings Event game.
And you now know you will save at least $500-plus for each year your new units are in operation. Plus you can skip the $150-plus cost of your annual furnace preventative maintenance and safety inspection service (and add another $150-plus saved on the cost of your annual A/C service).
If you make ductwork repairs as needed at the same time, you recapture up to 30 percent of wasted air by sealing up leaks. That is another $453 back in your wallet.
Finally, save an additional $301 by adding another 20 percent savings for weatherstripping and sealing air leaks in your home.
That is $1,554 per year on energy savings plus up to $1,000 saved on your new HVAC components. Wow!
Get in Touch
Now through October 31, 2019, play our Scratch-and-Win Golden Savings Event game to see how much you can save!