Winter can be an expensive time of year for many households, with holiday shopping, winter car and home maintenance, and winter activities. Plus, with winter forecasts predicting above-average snowfall across Canada and colder-than-average temperatures from Western Quebec to Southern Ontario this year, chances are we’ll be cranking up the heat, leading to higher energy bills. However, there is one way you can get a handle on your home heating costs: by upgrading to an energy-efficient furnace.
Home Heating Costs
Canadians are no strangers to cold winters. Home heating accounts for 62% of a home’s annual energy cost—that’s almost two-thirds of your energy costs. Like any commodity, the higher the demand, the higher the price. It’s not uncommon for homes to see their energy bills increase in the winter during those below-zero days. Upgrading to energy-efficient heating can bring those costs down.
How a New Energy-Efficient Furnace Can Help
Furnaces are rated using the Annual Fuel Utilization Efficiency scale (AFUE). AFUE ratings measure the efficiency with which a fuel source is transformed into heat. There is always some energy lost when heating a home, but a high AFUE rating means more heat is produced and less energy is lost, allowing homes to spend less on fuel over time. In Canada, gas furnaces are required to have a minimum AFUE of 95%, meaning the furnace will convert 95% of fuel used to heat a home. In comparison, furnaces purchased more than 15 years ago have an average AFUE rating of 80%. With these furnaces, about 20 cents of every dollar it costs to heat is being spent on wasted fuel. Upgrading to a new energy-efficient furnace will reduce this loss, thereby saving you money, and those savings can add up.
Here’s an example of how the savings play out. New energy-efficient gas furnaces, like the Lennox EL296V, have an AFUE rating of 96%. Based on the Canadian national average, this energy-efficient furnace can provide as much as 38% saved per year on your energy bill when compared to an older heating system, adding up to $2,130 over five years, $4,260 over 10 years, and $6,390 over 15 years. With an average furnace lifespan of 10 to 15 years, you’ll see those savings add up.
More Ways to Save by Upgrading to an Energy-Efficient Furnace
In addition to the savings on your energy costs, new energy-efficient furnaces require fewer repairs and lower your risk of an emergency replacement. They also reduce your home’s carbon footprint by burning less fuel and can improve the air quality inside your home by circulating and filtering the air consistently.
Buying a new energy-efficient furnace may seem like a major investment, but there’s actually a way you can avoid the high upfront cost: by leasing your equipment with Simply Green Home Services. Our home comfort experts will be with you every step of the way, from helping you choose the best energy-efficient furnace for your home, to booking your pre-inspection at no extra charge, and scheduling your installation with one of our experienced technicians. You’ll also be able to take advantage of affordable monthly payments, our 24/7 emergency service (at no additional charge) and after-hours service line, and all future labour costs and replacement parts included.
To learn more about the benefits of leasing and to get started on upgrading your home with an energy-efficient furnace, contact Simply Green Home Services today!