The emphasis on green energy over the last 15 years has spurred manufacturers of HVAC (or "heating, ventilation and air conditioning") systems to up their research and development game.
As a result, heating and cooling systems between 15 and 20 years old are now considered inefficient. The same goes for cooling units. If your AC system is more than 10 years old, you’re not getting optimum performance.
Replacing your home’s current heating and air conditioning usually requires an investment however. HVAC systems can often cost between $4,800 and $9,300 for just the equipment. Labor and installation are additional expenses. Families will want to balance the benefits of more energy efficient systems against their costs.
Upgrading to more energy efficient heating air conditioning now
Even when your HVAC is working fine, it might make sense to replace it before it gets to be 15 to 20 years old.
Energy Star®,the Environmental Protection Agency program, reports that it’s a good idea to consider replacing a heating and air conditioning system with something more energy-efficient when the equipment reaches 10 years of age.
A new, energy-efficient air conditioning unit will cost $3,600 – $7,200 and will save you an estimated 20 percent on energy costs. Energy Star® is a U.S. Environmental Protection Agency voluntary program that helps people and organizations save money and reduce greenhouse gas emissions by identifying factories, office equipment, home appliances and electronics that have superior energy efficiency.
Energy.gov, the federal government’s Energy Department website, seems to align with that viewpoint. "Today's best air conditioners use 30% to 50% less energy to produce the same amount of cooling as air conditioners made in the mid-1970s. Even if your air conditioner is only 10 years old, you may save 20% to 40% of your cooling energy costs by replacing it with a newer, more efficient model."
One last note on replacing your unit. Make sure your new system is installed properly by a professional HVAC installer. Improper installation of new equipment could shorten the life of the system and wind up costing you more on your utility bills. View Energy Star’s® Verified HVAC Certified Guide.
How to pay for green energy upgrades
Even though most of us understand the benefits to saving money in the long run by investing in energy-saving improvements, finding the cash to do it might be easier said than done.
There are financing programs offered by HVAC companies, but you might discover that using your home's equity to finance these improvements could be more cost effective. Freedom Mortgage offers an easy way to use your equity to make home improvements by getting cash from your home with its "cash out" refinance program.
You can also contact one of Freedom Mortgage's home loan specialists at 877-220-5533.