Buying a new air conditioning unit can seem like a big expense. Wouldn’t it just be easier and less expensive to just continue maintaining and repairing your current one?
In fact, when you consider the many long term benefits a new A/C unit can have, both for your comfort as well as your wallet, the decision to upgrade becomes much easier.
If you’re still on the fence, here are four ways investing in a new A/C unit could provide significant savings in the long run.
The Air Conditioning, Heating and Refrigeration Institute rates the efficiency of central air conditioning systems by what’s referred to as a Seasonal Energy Efficiency Ratio – or SEER for short. Generally speaking, the higher the SEER, the less electricity the system needs to do its job. To put things into perspective, modern energy-efficient A/C units feature SEERs of up to 25, whereas older units rate as low as 10.
What this means for those with older units is that they are using far more energy than is necessary to cool their homes. As a result, they are spending a lot more on their utility bills. Over time, those extra costs can really add up.
A/C and heat pump units using R-22 refrigerant were banned by the EPA in the year 2010. As a result manufacturers redesigned A/C and heat pump systems to use R410A refrigerant. The EPA also implemented a phase out on the production and import of R22 refrigerant for servicing existing equipment.
By January 1, 2020 R22 refrigerant will be completely phased out. No new or imported R22 will be allowed in the United States. Every year since the phase out has started R22 refrigerant becomes more and more expensive if you need a repair.
At the end of this year when no more R22 refrigerant can be acquired and once the supply finally runs out you will have no other choice than to either replace your existing equipment or go without air conditioning.
Logically speaking, the longer you operate an air conditioning unit, the more wear and tear it’ll rack up. This results in the need for additional ongoing maintenance and more repairs – both of which can prove costly when you add them up over time.
In fact, even with a program like our Preferred Customer Agreement, putting money into an older system that’s already running less efficiently and costing you more in energy charges might not be the wisest financial decision.
If you find yourself constantly having to call in a technician to fix your current air conditioning system, it might be a sign that it’s time to invest in a newer model. The good news is, modern A/C systems are designed to run efficiently for many years, so you’ll also be investing in peace of mind while you’re at it.
Rebates, Tax Breaks and Zero Percent Loans
Another way newer A/C units can save you money is through rebates, zero percent loans and other tax credits. For instance, there are a number of incentives available through local utility companies and other organizations, which can put anywhere from $100 to $1,900 back into your pocket. Many also offer zero percent loans for installing new energy efficient equipment. Additionally, tax credits for qualified geothermal systems are also available (not to mention the EPA estimated savings of 20-50% on cooling costs that comes with geothermal technology).
The easiest way to determine whether you are eligible for any of these rebates, credits or discounts is to contact an HVAC expert. Get in touch today to schedule a free, no-obligation consultation. We can help you more accurately calculate your true return on investment and get the most bang for your buck.