The era of cheap energy is firmly in the past. Across the globe, it’s becoming harder and more expensive to extract resources, including oil, natural gas, and other fuels that provide energy to the world. In fact, American Scientist has argued that the cheapest era for food and fuels was the early 21st century and that it was an anomaly not likely to be repeated. But what does that mean for homeowners who are just trying to keep up with their gas and electricity bills?
There’s not much you can do about worldwide economic trends and the cost of fossil fuels, but you can take steps to reduce your own energy consumption. Thanks to new HVAC technology, it’s not like the old days when saving on your heating bill meant shivering in the cold and putting on an extra sweater. Smart, energy efficient furnaces provide better home comfort while saving you money and reducing your energy consumption. Some smart systems can reduce your energy consumption by as much as 65 percent by connecting your heating, cooling, and water heating units.
How much money you can save depends on how old your furnace is already. A 20-year-old furnace is likely only about 80 percent efficient, meaning 20 percent of the energy you put into heating your home escapes through the vents and is wasted. Your furnace is working harder to deliver the same results that a more energy efficient furnace could achieve. Upgrading your furnace to one that’s 95 percent efficient would deliver significant savings on your heating bill.
How much you save also depends on the climate where you live. If you live somewhere with mild winters, the returns on a more expensive energy efficient furnace won’t be as great. You may save more money by talking to furnace repair experts near you about maintenance and prevention to keep your furnace running better for longer. If freezing temperatures or extreme cold are common features of winter where you live, more efficiency means more dollars back in your pocket.
Energy efficient furnaces are more expensive than less efficient, older models and homeowners have to consider several factors before they upgrade:
1) Is there a return on investment when they pay more for a better furnace thanks to long-term energy cost savings?
2) What’s the ROI of an energy efficient furnace on the resale value of your home?
3) Are you concerned about the environment and looking for ways to reduce your family’s energy consumption?
Upgrading to an energy efficient furnace is a long-term investment. When you’re considering the ROI, you have to think ahead of next month’s energy bill. What will energy cost five, ten, or fifteen years from now? With energy costs on the rise, investing in smart HVAC equipment today can be a great way to save money. Depending on where you live, you may even qualify for government rebates for installing green equipment. When it’s time to get a new furnace, consider investing in energy efficiency.