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Is a High-Efficiency Furnace Worth the Cost for New Jersey Homeowners?

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airprofLooking to replace your furnace? Choose wisely. The energy efficiency of your new furnace is going to affect your heating bills for the next 18-20 years.

If you’re considering installing a high-efficiency furnace (90%+ AFUE) to keep your heating bills low, you may be wondering if it’s worth the investment. 

This article will give you some general guidelines and tools to help you make that decision.

Calculating the total cost of a high-efficiency furnace

First, you need to assess if you can even afford a high efficiency furnace.

One generally costs $1500 more to buy and install than a mid efficiency furnace (80%-85% AFUE).

But the real cost depends on several factors like:

  • Size of the furnace (a heating contractor will need to perform a Manual J Heat Load calculation to figure out the size you need)
  • Furnace brand
  • Where your furnace will be installed
  • Features of the furnace
  • Installation costs from the furnace installer

Financing and tax credits (see below about this) can help you handle the higher upfront cost.

Once you feel like the total cost of a high efficiency furnace is doable and within your budget, you need to ask, “Will the extra cost of a high efficiency furnace pay itself off in the long run through lower energy bills?”

To find the answer, calculate the payback period and compare that to the lifespan of a high-efficiency furnace (18-20 years). The payback period is the number of years it will take to recover the investment made in something.

Using tools to calculate the payback period of a high-efficiency furnace

Here are some tools you can use to help you calculate the payback period of a high efficiency furnace:

Whichever tool you use, you need to get the cost estimate for the high-efficiency furnace. Contact Air Professionals to get a free furnace estimate*.

We offer free estimates* for the replacement of existing (or the initial installation of new) furnace equipment. Our quality installation comes with a 100% satisfaction guarantee. In addition, our experienced office staff will handle the timely processing of required Municipal Permits and Manufacturer Equipment Warranty Registration, on your behalf!

Take advantage of tax credits for high efficiency furnaces

If you’ve decided that you want a high efficiency furnace with an AFUE efficiency of 95%+, then you qualify for a $150 federal tax credit. ENERGY STAR has details how to apply for the tax credit.

Air Professionals is a whole-home comfort company serving New Jersey homeowners. Contact us for more information on how we can help improve your home’s comfort.

*“Free Estimate” does not include a “Cost to Repair” existing HVAC Equipment.