What would you like to do?

How much can you save on a new furnace?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

When my customers ask how long will it take to pay back for the high efficiency furnace in gas savings, I tell them this.
You can determine your payback time by using your energy bills from the last 12 months. First look at three months during the summer, say June, July, August. Add the 3 months gas bills then divide this by 3. This gives you a average per month amount for the appliances other than the furnace since you do not use the furnace in the summer. Next multiply this average per month number by 12. This is how much you spent on gas for the whole year on every appliance except the furnace. Now add up the 12 months total gas bills and subtract the amount that you figured above for the 12 months of other appliances. This gives you an accurate amount that you spent on just the furnace in gas for an entire year. Now if your furnace is 25 years old it probably has an efficiency rating of 60% AFUE. That means about 60 cents out of every dollar spent on the furnace gas heats the house and 40 cents goes up the chimney. The new high efficiency furnaces are 95% efficient so only 5 cents out of every dollar is wasted out the vent. You can now get bids on new furnaces to check your payback. Say the new furnace costs $2600.00. At the $2600.00 example you can use this to determine the payback. Let us assume a energy bill to use as an example. Say your last years gas bill for just the furnace that you calculated above was $2250.00. This may be a common amount in Minnesota. 95% is 35% more efficient than 60%. $2250.00 multiplied by 35% is $787.50 per year in savings. Using this example the payback would be $2600.00 divided by $787.50 which is 3.30 or about 3 and 1/3 years. Do not forget to take into account the old furnace may break down and the payback would be quicker and how much is peace of mind worth?
If the old furnace is more than 60% AFUE efficiency then just use the efficiency in the calculations. This method eliminates overestimating payback period in order to give an honest answer.
Thanks for the feedback!

How much does it cost to change a thermocouple on a furnace?

just had it done for $300. High, but had to be done. ANS 2 - He was robbed. - A typical thermocouple costs $8-10 even in Home Depot. Any competent handyman can fit one in abo

How much does a house furnace weigh?

About 500 lbs for furnace and about 10,00 ibs for a brick house

How much should a new furnace cost installed?

Quotes a few years ago for a coal fired furnace were around $7000. I'm sure it depends on your area and type of furnace. Shop around, and dont be afraid to deal for lower pric

How much gas pressure for Gas furnace?

The right gas pressure for a gas furnace to operate well is between  12 to 13 WC. However, it can still operate as low as 10 WC.

How much electricity does an oil furnace use?

As the heat is coming from the burning oil, the furnace itself technically uses none. Assuming you have a central heating system that forces hot air through ducts to vents t

How much does a furnace cost?

12/2009 - As I type, they are replacing my old with a one-cycle Trane. The check I will be writing for this nifty little gadget is $3000 even.  getting a furnace meens ge

What is a furnace?

Furnace is an enclosed fire place show me parts of a coal fired furnace

How much oil will a furnace burn in 24 hours?

Ours uses 5gallons per day. To calculate yours take how much is the tank and divide it by how long it lasts. Our 150/30=5 and another example 350/60=5.83. These are good for e

How much does a new Carrier furnace cost?

Gas or electric? How large a furnace? How efficient does it have to be? Do you want an energy rebate for your willingness to pony up for a unit that operates well past 90% eff

How much does a gas furnace cost?

I was just checking around myself and looks like it can be anywhere from $3000-$4000 installed. Add $1K if you're going with a 90% high efficiency one which is recommended for

Does shutting off oil furnace save money?

It does for a gas furnace and gives you the opportunity to do maintenance while it is off. Why not spaek with driver od the company that delivers your oil. They will be more f