Heating your home is a pretty substantial investment, whether you’re installing a new furnace to replace a defunct unit, or putting in an entirely new system.
The average cost of a new furnace in the Philadelphia area in 2017 is $5,326, although some units can be as high as $10,000. The cost of a high efficiency furnace all depends on the type of system you choose and the brand you buy.
These furnaces might cost more to install, but you’ll pay less for fuel and won’t see prices fluctuate as with oil, because natural gas tends to come from North America.
There isn’t much maintenance required, and you won’t need a fuel tank the way you would with oil furnaces. Gas furnaces are more energy efficient, quieter and cleaner.
Heating oil often comes from overseas, which means prices can be influenced by the international market.
But customers still choose oil heat in colder climates, because it provides more heat per BTU than other fuel sources, and allows people in remote areas to heat their homes without having to tap into a utility. All they need is an oil tank.
No matter what kind of furnace you choose, it’s important to consider how efficiently it heats your home. By law, furnaces must carry an Annual Fuel Utilization Efficiency (AFUE) rating. The higher the rating, the less fuel consumed.
In 1992, the U.S. Department of Energy established new efficiency rules for furnaces makers. New units had to turn at least 78 percent of their fuel into heat. That standard rose to 80 percent in 2013, and these days, most high-quality furnaces reach 98 percent efficiency.
And you can use these efficiency ratings to help figure out how long it will take to recoup the cost of installing a high efficiency furnace. Here’s how:
- Find out how much you already pay on heating your home. Multiply your gas/electric bill by 12. You can also have your utility company evaluate your furnace to get an idea of how much money you pay to run your system.
- Calculate the cost of buying and installing a furnace, subtract rebates and government incentives.
- Look at the yellow tag on the new furnace. It should have an estimate of how much energy it will use each year.
- Multiply that number by the cost of energy for your region, which you should be able to find on your utility bill.
- Subtract the cost of running the new furnace versus the cost of operating your old one for a year.
- Divide the final cost of your furnace by the energy savings to see how many years it will take for the furnace to pay for itself.
Before you even start searching for a new furnace, be sure to consult with an experienced, licensed, HVAC professional like the ones at All Seasons Comfort Control.
Our technicians look forward to working with you to find the most effective furnace for your home. They can look at your house and help maych you with the best, most cost-effective way to keep you and your family warm when winter comes.