T’is the season for selling replacement air conditioners and furnaces. Hydro One, Toronto Hydro and Direct Energy have all lobbed offers at me this month.
Direct Energy pitch me that if I install a new forced air gas furnace it will save me some $868 a year including $340 in electricity. If you run your furnace fan motor year ‘round the electrical saving grows to about $500. A new furnace costs about $6000 installed.
For about $600 you can retrofit the existing furnace fan motor and still save the $340 or $500 a year. Looks like a better investment to me, pays back in less than 2 years, takes about an hour to install and I have the $600 in my jeans.
But alas the electric utilities, and their minder the Ontario Power Authority, only pays their $250 grant for installing a new gas furnace not for just saving on electricity! Time for a head shake?