Furnace prices have skyrocketed in recent years, with many units costing nearly 2.5 times more than before the pandemic. According to HVAC specialist Matt Gorbacz, this is mainly due to higher equipment manufacturing costs, supply chain issues, increased labor costs, and stricter efficiency regulations.
Gorbacz explains that the need for greater efficiency levels has driven up the prices, as manufacturers rely on more complex and expensive components and electronics to meet the new standards. Additionally, the rising costs of raw materials like steel and copper have also contributed to the overall price hike.
The impact of these price increases is felt more acutely in certain regions, like the Midwest and Northeast, where furnaces are the primary heat source and demand remains high every winter. Homeowners in these colder areas also often require higher-capacity systems, which come with a higher upfront cost.
Consider replacing furnaces with heat pumps
To offset the rising furnace prices, Gorbacz recommends considering heat pumps as an alternative. Heat pumps are more efficient than traditional gas or oil furnaces, as they don’t generate heat but rather move it. Air-source heat pumps (ASHPs) can be up to three times more efficient in terms of electricity consumption.
Another advantage of heat pumps is that the newer cold-climate models can operate efficiently even when outdoor temperatures drop below freezing. However, a secondary backup system may be needed for temperatures below around 5 degrees Fahrenheit.
Additionally, heat pumps can provide both heating and cooling, eliminating the need for a separate air conditioning unit. This feature aligns well with the environmental regulations being implemented in some states, which are limiting high-emission furnace installations. Gorbacz notes that heat pumps often qualify for various rebates, helping to offset the upfront cost.
Heating alternatives for zoned heating
If your home lacks ductwork in certain areas, Gorbacz suggests considering ductless mini-split heat pumps. These systems can help reduce overall heating costs by only heating the spaces you’re using, rather than the entire home.
Portable electric space heaters and electric baseboards or wall heaters are also viable options for supplementing or zoning your home’s heating. These can be particularly useful for remote or hybrid workers, as they allow you to heat only the rooms you’re using and avoid heating the entire house unnecessarily.
When choosing alternative heating solutions, Gorbacz advises considering safety and sizing. For instance, portable heaters should be kept away from combustibles, and the electrical system should be able to handle the added load when switching from gas to electric heating. He also recommends not waiting for a furnace to fail before planning a replacement, as emergency replacements often come with a higher price tag.
