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Upgrading to an Efficient Heating System Saves Money

Upgrading to an Efficient Heating System Saves Money

New Jersey homeowners with old heating systems face a winter season full of high energy bills. But even as severe weather slams the country, it’s not too late to replace that money pit with a new, more efficient heating and cooling system. Gold Medal Service, an award-winning heating, cooling, plumbing, electrical, drain and waterproofing service company, offers New Jersey residents some tips to determine if they need a new system.

“One of the best ways to save money in the long run is to invest in a more energy efficient heating and cooling system,” said Mike Agugliaro, Gold Medal Service’s co-founder. “Today’s new units can save the average home owner as much as 25 percent per year in annual heating costs.”

With the temperatures dropping so much recently, you don’t want to get left out in the cold if your old furnace quits. If your contractor suggests that your furnace needs replacing it is wise not to delay. If it's the cost of replacing your old furnace that’s making you hang on, consider that some older models of furnace deliver only 55 percent of their heat to your home while a new high-efficiency natural gas furnace may deliver up to 97 percent of the heat it creates to your home. Your old furnace is probably costing you money. A new natural gas furnace will likely save you money.

A new furnace installation can cost anywhere between $1,000 and $3,500, depending upon the complexity of your specific installation. High-efficiency models might cost an additional $1000 to $2,500 for the added efficiency. If your family has high annual heating bills, a higher efficiency furnace is going to make more economic sense than it would for a family that has very small heating bills. When determining how efficient a furnace to buy, take into account what you are spending on your annual energy bills. If you are going to be in your home for a period of time that would justify this additional expense, it makes sense to install the highest efficiency furnace that you can afford. A new high-efficiency furnace may also increase the resale value of your home.

Other factors that determine your annual heating cost are:

  1. The size of your home
  2. How well your home is insulated
  3. The draftiness of your home
  4. The number of leaks in your ductwork
  5. The temperature at which you keep your home during the winter season
  6. The number and type, or efficiency level, of windows you have in your home

If investing a new heating system isn’t in the cards now, here are five tips to keep your home warmer this winter:

  1. Weather-strip your doors
  2. Seal baseboards and caulk windows
  3. Wrap the water heater and ducts, insulate the pipes and change the filters
  4. Add a door sweep to rooms that you use less frequently
  5. Replace an old thermostat with a high-tech, smart thermostat.

“We offer financing options to make the purchase as easy and affordable as possible,” said Agugliaro. “Many of our customers find that rebates on a new, efficient system can actually put hundreds of dollars back in their pockets each month.”