- December 7, 2023
- Posted by: legaleseblogger
- Category: Related News
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Should I Upgrade to a High-Efficiency Furnace Before the Deadline to Take Advantage of the Rebate?
Upgrading to a high-efficiency furnace before the December 31st deadline in Northern BC can help you save money on your energy bills and reduce your carbon footprint. Despite your 18-year-old furnace running fine, it may be worth considering the rebate of $950 as an incentive to upgrade to a more efficient model. However, the replacement cost is quoted at $5,000 plus GST, which may seem like a significant investment.
One way to assess whether it’s worth replacing your furnace now or waiting for it to fail is to consider the long-term benefits of upgrading to a high-efficiency model. These benefits may include lower energy costs, improved comfort, and increased home value. Additionally, with a newer, more efficient furnace, you may also qualify for other rebates and incentives offered by the government or utility companies.
If you’re unsure about the cost-benefit analysis of upgrading your furnace, you could consider using an AI Legalese Decoder to help you understand the fine print of the rebate and any legalities involved. The AI Legalese Decoder can sift through complicated language and jargon to provide you with a clear understanding of the terms and conditions of the rebate, helping you make an informed decision about whether to take advantage of the offer.
Overall, while the upfront cost of replacing your furnace may seem daunting, the potential long-term savings and environmental benefits of upgrading to a high-efficiency model, coupled with the available rebate, may make it a worthwhile investment in the end.
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How fast would the savings pay for the furnace if you switch? Find that number and use it to help your decision. Personally I’d wait for it to fail if its running fine. Buy-it-for-life motto is almost always the more frugal way to live. There’s always going to be something newer and better come along, but if it aint broke don’t fix it.
New high efficiency furnaces are notoriously (and probably falsely price jacked) expensive as well as expensive to repair. When they do break, the repair is usually “it needs a new circuit board….that will be $1400 please”…
Old furnaces that still use thermocouples are very easy to self-repair (if yours still uses this tech) and worst case, cheap to have a tech come in. Repairs are usually less that $200.
How much gas do you burn on average in the winter months (check your bills)? The actual cost of natural gas is really not all that expensive and reducing your usage by x% may not actually have that large of impact on your bill. How long will it ACTUALLY take to repay a $5000 furnace install if your bill changes by $50 a month for 1/2 the year?
What’s the efficiency rating on your current furnace? 18 years really isn’t that old.
No, unless itÔÇÖs broken and the repair is more than 1k
If your current furnace is a lower end model, you might want to ask yourself how much longer you expect for it to last.
I’ve had 2 furnaces die on me, once in the winter. It’s a terrible headache to deal with. I would probably go ahead and replace it if you have the funds and can afford to. The peace of mind is well worth it
Under normal circumstances I’d say that 18 years is too quick. I’d replace a furnace in the 20 – 25 year timeframe. An expense delayed is money saved, as they say. That said, the rebate is also a significant chunk of money.
Back of the envelope calculation. If a new furnace is $5000 and the nominal lifespan is say 25 years, then the annualized cost of the furnace is $200. Replacing it 7 years early will cost you an extra $1400, but you will save only $950. So I’d say wait. Of course, you get a different answer if you assume a 20 year lifespan. So it’s really up to you.
I haven’t included fuel savings because an 18 year old furnace should be efficient as well. My house is 20 yo and still with the original HE furnace.
No.
For $1000, invest in more insulation or caulking leaks. You will see larger savings on your gas bill.
I just did this with my 22-year-old gas furnace. The inducer fan was starting to fail and would likely be at least $500 to repair. I figured if that was the first thing to go, something else was bound to follow. I now have a two-stage high efficiency furnace and a new thermostat.
I canÔÇÖt speak for modern furnaces, but IÔÇÖm going to run my 70 year old boiler until it doesnÔÇÖt make sense to repair it anymore.
I had considered replacing it as preventative maintenance, but it keeps being awesome and I love that hot water radiant heat
At 18 years if your furnace is still in good condition spending 5000 Dollars is wasting money.
A furnace that’s well installed and maintained can last 30-40 years easily.
https://www.youtube.com/watch?v=EJsSRLo0Plg&t=1s&ab_channel=TheDIYHVACGuy
Assuming you have a 80% efficiency model, you would have roughly a 10-15% reduction the m3 used. No rebate on fixed rate, but about 10-15% reduction on the variable part of the bill.
Only you knows how much you pay.
For vast majority the answer is no, it isn’t worth it.
If your furnace still has support by the manufacturer and or 3rd party parts manufacturers it is not worth it for such a small rebate. If your furnace happens to be an EOL furnace for the company and doesn’t have repair parts available it MIGHT be worth it once you do the math on how much you can save monthly
If itÔÇÖs not broken – donÔÇÖt worry about it.
These things last for 25plus years with proper care. You might have a motherboard issue but thatÔÇÖs only 900$ if it comes that.
Waiting for the furnace to fail is not great – chances are it’s going to fail in the dead of winter when it’s working hard, and then you’ll be scrambling to have it replaced before your house freezes – and right at the time when HVAC guys are going to be busy because lots of other furnaces will be having problems too. Happened to me, just after Christmas once, and it was PITA. Plus, that rebate may no longer be available when it does fail. I’d say, at 18 years, it’s had a pretty good run. Better to have it done at a time of your choosing so you can plan things out for minimal stress. Also gives you a chance to shop around and consider your options, if you haven’t already done that.
The new furnace will use less gas, and probably less electricity as well, so it should save you a bit of money monthly. You might want to wait till summer, I suppose there’s always the chance something goes wrong in the install that takes a few days to resolve, always easier to deal with that in the summer time. Make sure you look into how long that rebate is going to be around for though.
No
Get a heat pump
Does that quote include running the new ducting / vent for HA?
What are your bills like?
Is it working well? IE is your home comfortable all the time?
There is a 5000$ federal grant if you replace the furnace and add a heat pump.
Have you considered a hybrid heat pump? My mom just out one in and she loves it!
Why not invest in a heat pump instead?
Only do it if youÔÇÖll break even in 5-6 years when including energy savings.
Do you have a smart thermostat? If so, get one and use it. ItÔÇÖs actually a healthier sleep at night to have temperature low. So if today you keep your house at 22-23 all the time, you can save a lot by dropping it by 1 degree in day and by 3 degrees at
Night. If you have a nicely sealed house, your furnace may not even run at night if you drop the temp and it keeps the heat well for 5-6hrs
When I bought my house a couple years ago I took the opportunity to replace the 25-year old furnace.
It’s nice to have a more efficient furnace but I wish I’d added a big heat pump instead.
Keep it for back up and get an electric heat pump, good rebates on that cheaper to run most of the year and it covers A/C too
Well, after this year, there will be no more rebates on high efficiency natural gas equipment. So if you decide to do it in 2 years, and don’t go with a heat pump option (which isn’t really rated for the northern climate, and will have a higher sticker price regardless), you’re going to be spending at least 20% more out of pocket.
Personally, $1000 extra dollars is a good reason to move quickly.
I switched from oil to propane. $6,500 with taxes minus whatever the rebate. This is in Yellowknife for reference. It was a no brainer for me. Oil costs so much more than propane up here.
Mine is older than 18 and is still running fine. If it aint broke
Maybe get the heat transfer unit thing checked for cracks, if cracked probably a good time to replace.
I just replaced my furnace this year, mostly because we also wanted to add AC. It was original to the house, a monster tank of a unit, house was built in freaking 1980. It was still going strong and who knows how many more years I could have got out of it.
The gas bills in AB seem setup where there are so many other fees, I feel like it will be decades before the actual usage portion (savings) actually shows a payoff. Maybe I’m wrong. Either way I bought a HE furnace as you can’t even buy mid efficiency anymore, or at least that’s what they told us.
Ok from a gas filter here. Ignore the rebate. Let’s look at life expectancy on a furnace nowadays. Expectations are generally around 12-15 years. That’s life expectancy on pretty much every brand. Is it possible to get more years out of it sure is, is it possible you get less yup. Now the next question should be does it require any new parts. If yes what’s the cost, on an 18 year old system I def caution you at spending anything over 200-400$ bucks ( 400 is even high in my eyes ). Why because at that age what breaks next might be a 100 dollar fix or a 1000. Furthermore look at your situation. Are you financially stable enough?. If yes then yes do it. 18 is an old furnace nowadays unfortunately. Remember that furnace is the heart of your home. It cleans your air, heats and cools it. And I guarantee you when it does go, it will be at the worst possible moment. Also take note someone recommended a heat pump, if that’s in the budget 100% worth it.
If you have had parts replaced in the last few months, ask them if you buy new will they refund you.
How does a furnace with a higher efficiency create the same amount of required heating? IsnÔÇÖt the only way to burn less gas? How is this possible?
There is one reason youÔÇÖd want to replace the furnace is if you actively rely or pay for a home warranty plan. Companies wonÔÇÖt cover breakdowns if the unit is X years old (typically 20-25).
$5000?! How big is this furnace?!
Your average furnace will last 20-25 years.
18 years is old for a furnace – – expect to need to replace it in 2-7 years.
you’d be saving 20% of the cost to switch to a HE today.
your furnace likely has about 20-30% of its life left.
​
its about a wash
Wait for catastrophic failure. IÔÇÖd even entertain repairs up to $1k ish. Get the heat exchanger inspected for cracks though
think about how long you plan on living at your current home
There will be more and more rebates to come in the future. You’ve still got some years left in that furnace. I don’t think you’ll save 5000+ by replacing it now
If that is a gas furnace then $5000 seems too high. In southern Ontario we just replaced my daughterÔÇÖs high efficiency at 17 years because it couldnÔÇÖt be fixed.
Got the furnace wholesale but retail price if we hadnÔÇÖt gotten the deal, was $3800 for a Rheem 90,000 btu installed. If you get the exact same size cabinet you can save some money on the sheet metal work. In Ontario the exhaust pipe also needs to meet newer codes so that could account for some of the cost.
Two weeks ago, I had a 34 YO Airco medium efficiency (75%) replaced with a York full modulating (98%). With the low price of natural gas the new furnace payback will be about fifteen years, which is how long the new furnace will last. IMHO leave the old furnace i place.
My new furnace is slow and low heat – kinda like electric baseboard heat. I miss the old furnace because it would warm the house quickly and you felt the warmth. I reaaaly miss that HEAT!
No.
I would leave it…you’re not going to save that much…
I’m still on my original one at 37 years…replaced a motor once and 2 or 3 of the main gas valves and some pilot lights but seems to be working better than ever….knock on wood
Is it gas or electric?
HE furnaces are garbage. They are more complex and have more parts that break. They are more expensive to repair, and they require repairing more often. After 11 – 15 years they’ll finally pay for themselves if they haven’t needed to be repaired yet, but as soon as that first repair happens you’ll never break even.
18 years old? Your furnace is still new. I just replaced a 56 year old furnace. My other furnace is 26 and purrs like a kitty