A new HVAC system can save the average Baltimore, MD homeowner a lot of money over its lifetime, but can you justify the cost? Buying a new HVAC system and paying to have a professional installation doesn’t exactly come cheap, so what should you do?

Here are a few finance-related points to consider when thinking about purchasing a new HVAC system.

Determine the Costs

It’s practically impossible to get an accurate estimate of how much a new HVAC system will cost you unless you contact an HVAC contractor. For research purposes, however, most HVAC systems run anywhere from $6,000 to $12,000 for a 1,000 square-foot home. This average assumes that your home already has all the required infrastructure in place.

For a more detailed breakdown, you can assume that a central heating furnace will cost between $2,500 and $7,500. A central air conditioner for a 2,000 square-foot home costs anywhere from $3,000 to $5,000. Doing the ductwork generally runs from $1,000 to $3,000. Again, these are only generalized price points and may not reflect your actual costs. The reason for this is that there are several factors that can impact average costs, including the size of your home, the existing infrastructure, and the HVAC model you prefer.

However, understanding even a ballpark estimate can help you figure out your budget and make it easier to set a financial goal.

Look for Rebates

Most state and local utility companies offer rebates for replacing an older HVAC system. If you can score one of these rebates, you could actually earn thousands of dollars back just from making the upgrade.

Rebates, tax credits, and other incentives are also offered by government agencies. Depending on where you live, your city might offer energy efficiency rebates that are awarded for HVAC upgrades, lighting upgrades, and other improvements. You will need to check energy.gov for specific information regarding what incentives are offered in your area.

What’s more, you can take advantage of federal income tax credits for energy efficiency upgrades. If you buy an ENERGY STAR-rated HVAC system in 2017, for example, your tax credit is 30 percent of the total cost of the system. This percentage will remain available through December 31, 2019. After that, the percentage will decrease each year until it expires in 2021.

In addition to government rebates, HVAC companies often offer ongoing rebates and money-saving options for buying their products. Ask your HVAC contractor for more information regarding current specials.

Take Advantage of Off-Season Discounts

In most cases, HVAC contractors are busier in the winter than other seasons. Because of this, it’s not exactly the best option to purchase a new heater in the dead of winter.

Waiting until the off-season, such as the spring or late summer, could be a smart decision. That’s because HVAC contractors aren’t making as many sales during these down times, but they still need to move product. In order to do so, they will typically offer deep discounts and specials because they need the business.

While this isn’t a sure way to save money on your new HVAC system, it is worth looking into.

Consider the Savings

If your current HVAC system is older, it’s probably drawing a lot of energy and resulting in high utility bills. While finding the money to afford a new HVAC system can seem difficult, imagine how much money you’re wasting by not upgrading.

A new HVAC system will provide better energy efficiency and help keep more money in your pocket. It’s an essential cost that will pay off in the long run. Once you’ve done your research and set your budget, you can begin setting money aside and keeping an eye on discounts and rebates. It may not happen overnight, or even within the year, but you can pay for that new HVAC system if you don’t lose focus.

Call Griffith Energy Services at 888-474-3391 to learn about our current HVAC specials and services. We will be happy to discuss the proper solutions for your home, your family, and your budget.

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Dear Customers,

At this time, when the news is dominated by the Coronavirus (COVID-19) health emergency around the world, we wanted to personally reach out and let you know that we are vigilantly implementing enhanced protocols to ensure your safety and the safety of our team.

We are closely monitoring the guidance of the World Health Organization and the Centers for Disease Control regarding the spread of the virus. This is an evolving situation and we will continue to develop and take necessary measures as needed. Our focus is to ensure that we meet customer needs while doing our part to keep you, our employees, and our communities safe.

Here’s what we’re doing:

  • Everyone on our team has received enhanced training and protocol briefings. We will continue to evolve and adjust these protocols as needed.
  • We are implementing telecommuting options for positions where applicable.
  • Non-essential work travel is currently on hold for all employees.
  • We are conducting enhanced cleaning practices at our locations and are instructing employees to continually sanitize their work stations and vehicles.
  • We are also urging all employees to be vigilant about frequent hand washing.

Information for you:
If you have an existing service appointment, we look forward to seeing you and want to reassure you that we are doing everything we can to promote a safe and secure service experience.

During this challenging time, if you are experiencing symptoms related to the COVID-19 virus or have been exposed to it, in order to protect our team and all the customers we serve, we encourage you to please reschedule your service appointment, by calling us at 888-474-3391.

Your safety is our highest priority and we truly appreciate the trust that you place in our team and our company.

Best regards,
Griffith Energy Services

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