HVAC stands for Heating, Ventilation, and Air Conditioning. These systems regulate temperatures, air purity, and humidity in residential and commercial buildings. They heat the interior spaces when it’s cold and cool them when it’s warm or hot inside. An HVAC system encompasses equipment such as air conditioners, heat pumps, furnaces, ducted and ductless units, and other control systems like smart thermostats.
According to Statista, the global market size for HVAC systems is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 3.9% between 2020 and 2030, amounting to USD$367.5 billion by 2030. Based on a recent projection, the worldwide market volume for HVAC systems is expected to reach USD$151.1 million units by 2024.
And like other depreciating equipment, HVAC solutions may wear out over time mainly due to excessive use. Therefore, HVAC replacement is essential to maintain comfortable conditions at home or a place of business. Since HVAC installation and replacement come with costs, there are ways to lower these expenses and make the entire service budget-friendly. Here are five tips for cutting costs when replacing your HVAC system:
Compare quotes from the best HVAC companies
If you’re based in Conroe, the cost of HVAC installation Conroe, TX, may vary per company depending on the type of HVAC system and installation services. Therefore, it’s best to research the best HVAC providers and compare their quotes to find the best deal. You may find a company that currently offers excellent discounts or free additional services such as HVAC inspection and diagnostics. Also, it’s the perfect time to confirm if your contractor is licensed, qualified, and knowledgeable to ensure they do the work right the first time.
Even so, note that when choosing an HVAC contractor, the cheapest quote isn’t the only factor to consider. It’s also essential to vet contractors for high-quality products and services that save you money now and in the long term.
For instance, you’d want to partner with a contractor offering the most energy-efficient HVAC models with a high Annual Fuel Utilization Efficiency (AFUE) rating of about 95% to 98%. AFUE measures the amount of fuel an HVAC system converts into heat. For example, a furnace with a 95% AFUE rating converts 95% of the fuel supplied, whether electricity or natural gas, into heat. In the US, an HVAC system must have a minimum AFUE rating of 80%.
Generally, these high AFUE-rated systems will cost you less power for greater energy output. Therefore, you’d want to consider working with a reputable HVAC company like Luxury Air for high-quality HVAC replacement. Watch https://www.youtube.com/watch?v=3MrVrzm6MB8 for more information on why you should choose the company for air conditioning and heating solutions.
Seek out a utility rebate
Other states or local utility companies may offer rebates or incentives for HVAC replacement. For instance, your state may have a program that provides direct incentives in cash form to offset the cost of energy-efficient and environmentally friendly products. Therefore, you’d want to leverage such offers to reduce the cost of your new HVAC system. You can use rebate finders to look for utility rebates online.
Also, top HVAC manufacturers may offer rebates for their top HVAC models as part of customer incentives. Therefore, you can consider shopping from such brands to get a high-quality solution at a considerable price.
Select the right size HVAC system
The total cost for HVAC replacement is influenced by factors such as the type and size of the HVAC equipment, installation expenses, location, ductwork, and size of your building. Typically, the average cost for air conditioning units is USD$5,700.
Also, according to Forbes, the HVAC installation cost per square foot may range between USD$15 to USD$18. Therefore, it’s essential to choose a solution proportional to the size of your home.
Bigger HVAC units are more expensive and may also result in higher energy bills if it utilizes more energy than you require. You can talk to an HVAC professional to get the dynamics right. That includes the square footage, insulation level, and the ideal HVAC solution for the building.
Take advantage of off-season deals
HVAC companies are usually busy during winter and summer when property owners prepare their homes for warmth during the cold season and air conditioning for the warm period. Therefore, prices may be high due to increased demand. In that case, it may be cheaper to replace your HVAC system during the off-season when HVAC providers aren’t busy and are seeking work. Contractors may offer off-season discounts to attract customers. Even if they don’t advertise, you can personally request an off-season deal from your contractor.
Consider utilizing renewable energy
Using renewable energy systems like geothermal or solar energy in conjunction with HVAC systems eliminates reliance on expensive and unsustainable fossil fuels. For example, a solar-powered air conditioner doesn’t require any other energy source apart from sunlight. Therefore, during and after HVAC replacement, you won’t have to incur gas or electricity costs to run them. Notably, an average household in the US can save up to USD$1,500 annually on energy bills by using solar-powered systems.
Replacing an old HVAC system with a more efficient one ensures optimal temperature regulation and air purification at your home. Also, an old or ineffective HVAC system may not operate at optimal energy efficiency, so it may consume more energy and increase utility bills. Therefore, HVAC replacement can also save you high energy costs. Above are five tips for cutting costs during HVAC replacement. Additionally, compare different HVAC contractors to find the best solution at a lower price.