Why invest in a new heating system? Replacing your old, outdated heating system with a new energy-efficient one could potentially:
• Save you money on fuel and energy costs
• Boost your home’s resale value
• Help cut down on greenhouse gas emissions
One of the most important factors to consider when deciding if a new system is warranted is the age of your current system. According to experts, furnaces on average last 15 to 20 years, while heat pumps last about 16.
Another factor to consider is the cost of repairing your current system. If it’s going to cost a small fortune to get your existing heating unit up and running efficiently, it’s probably wise to look into replacing it. If that’s what you’re leaning towards, the average cost to replace a home heating system these days is around $3,800. And keep in mind that you could end up spending more if other parts of the system, such as ductwork, also need to be upgraded.
If you’re on the fence as to whether to repair or replace, you can always seek a free consultation or assessment. Many heating companies will come look at your system for free, and provide recommendations. Mass Save®, a collaborative of Massachusetts utilities and energy efficiency service providers, offers no-cost home energy assessments to Massachusetts homeowners as well. And Rhode Island homeowners can receive a similar no-cost home energy checkup from National Grid. Having a professional heating technician or an energy specialist take a look at your existing system can help you decide if a new system is warranted.
Keep in mind that your heating system isn’t the only thing that impacts how comfortable your home is during the winter. Air leaks play a role, too, especially if your house is older and under-insulated. A no-cost home energy assessment from Mass Save® or National Grid will help you identify these types of issues as well. Sometimes, just plugging up air leaks through new insulation or windows can help your heating system run more efficiently.
If you do decide that a new heating system is in order, BankFive may be able to help. Through our partnerships with the Mass Save® HEAT Loan program and the Rhode Island 0% Financing Program offered by National Grid, we offer no-interest financing for eligible home energy updates.
So remember, you don’t have to suffer through the winter with an outdated, energy-sapping heating system. Get your current system checked out now to ensure that it’s up to snuff to meet your heating needs.