Electric furnaces provide comfortable heat that’s generally clean, environmentally-friendly and without the potential dangers associated with oil and gas furnaces. While electric furnaces are usually less expensive to buy than other types of heating systems, they can cost more to operate on a month-to-month basis. Here’s an estimate of the cost of operating an electric furnace, from initial purchase to long-term operation.
Purchase and Installation
Electric furnaces offer many benefits that reduce the initial cost of purchase and installation. Electric furnaces:
- Are relatively small and easy to install.
- Require no special chimneys, vents, or flues to remove combustion byproduct gases, such as carbon monoxide, from your home.
- Operate safely without the potential dangers of using flammable fuel.
- Provide several years — between 15 to 20 years on average — of reliable service.
An electric furnace can cost, on average, between $1,000 to $1,500. Higher-priced units usually offer better efficiency, which can help control ongoing expenses. Installation will typically add another $1,000 to $2,000 to the overall cost. Some dealers might offer specials that include installation in the overall price.
Remember that prices can fluctuate and are likely different depending on geographic region and other factors. You should contact your local HVAC supplier for the most up-to-date quotes on electric furnace prices.
Monthly Heating Costs
Electric furnaces consume substantial amounts of electricity to generate heat with specialized internal heating elements. In comparison with gas and oil furnaces, electric furnace costs are usually higher. Electric heating typically costs $35 or more per BTU of heating. This can translate into several hundred dollars per month for home heating. If you live in an area where electricity is more expensive, the cost might be even higher.
Mowery Heating, Cooling and Plumbing has been serving residential and commercial HVAC customers in and around Brownsburg for more than 40 years. Contact us today for more information on the benefits and costs of an electric furnace and for expert advice deciding if an electric furnace is the best choice for your home comfort needs.
Our goal is to help educate our customers in Brownsburg, Indiana and surrounding areas about energy and home comfort issues (specific to HVAC systems).
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