John Bacon Posted April 22, 2015 Report Share Posted April 22, 2015 I know we have some HVAC people on the board. I am hoping to get some information on a program offered by Eco Energy Eco Energy is offering to replace my ~12 year old furnace with a new high efficiency furnace and A/C There would be no up front cost for equipment or installation. There would be a $124.95 + HST monthy charge to cover equipment rental and maintenance agreement There is also a $1,300 government rebate available for upgrading to new high efficiency appliances. They are claiming that the energy savings pay for the monthly charge. Had anybody hear dealt with Eco Energy. Are there any HVAC people that could weigh in on the claim about energy savings exceeding the $124.95 monthly charge? I currently have the orginal Carrier furnace installed in the house which was built in May of 2003. I have recently replaced the secondary heat exchanger, the fan, and the fan motor. The igniter was replaced about 2.5 years ago. I am assuming that the furnace will be good a few more years since many of the parts are new. My existing furnace is a high efficiency furnace. However, the rep claims that the efficiency of the furnace decreases by 2% a year. Thus, my furnace which was originally 90% efficient would not be 72% efficient. Can any HVAC people comment on this decrease in effiency? Assuming that the decrease in effiency with an aging furnace is true, how would a new secondary heat exchanger (I still have the original primary heat exchanger), new fan, and new fan motor affect the decrease in efficiency? Would my furnace with new parts be closer to the original efficiency? Or, closer to the 72% figure that they have provided. They are offering to install a Goodman 96% Dual Stage Gas furnace with variable ECM and a Goodman 14.5 SEER Air Conditioner Is this a good furnace? I would appreciate any information that anyone can provide on the company, equipment, etc. Link to comment Share on other sites More sharing options...
fishnsled Posted April 22, 2015 Report Share Posted April 22, 2015 Personally I wouldn't, in the long term you pay way more than what you can buy one for. Not the same company but worth a watch. http://toronto.ctvnews.ca/video?clipId=286476 Link to comment Share on other sites More sharing options...
Terry Posted April 22, 2015 Report Share Posted April 22, 2015 well, will a 24% increase in efficiency save you $124.95 + hst a month that would need to be almost quarter of your bill if my math is working so are you paying 500 a month now Link to comment Share on other sites More sharing options...
Canuck2fan Posted April 22, 2015 Report Share Posted April 22, 2015 (edited) I am not in HAVAC so I can only go by what I have seen. My parents had to replace their mid efficiency furnace 3yrs ago because it was shot after 28 yrs. They were promised a rebate as part of the contract. When they applied the rebate was DENIED, when they went back to Reliance about it Reliance said read the fine print we aren't responsible for you being denied, by the government. When I got out the magnifying glass and read the fine it Reliance was right the wiggle words there promised nothing. So don't count on the rebate actually arriving. The new high efficiency furnace DID NOT keep the house as warm as the older furnace so it was running a lot more. This was possibly because the house was old and the duct work wasn't upgraded. Also, the last two winters were much colder so there weren't any energy saving either. The new Rheem furnace required 6 maintenance calls in less than 2.5 yrs 4 of them in one weekend where the entire water including supply froze overnight after a the first visit.... The service men all said they were seeing tons of failures across all the brands Reliance was selling that were the same age during that cold snap..... I asked all 4 of them which brand should I buy for my next furnace and they all had different answers because of preferences for working on them NOT quality or reliability LOL They all said what is the worry you get a 10 yr warranty on a new furnace because they aren't built like they used to be. Again if you are going to have that 25% savings pay for the new furnace. You would have to be spending 500.00 a month for gas for heat now, and that is 6000.00 a year. You will be paying 125 a month or 1500 a year for the new furnace.... Seems like a long shot to me that it will be what they say given what the numbers turned out to be for my parents. Edited April 22, 2015 by Canuck2fan Link to comment Share on other sites More sharing options...
206 Posted April 22, 2015 Report Share Posted April 22, 2015 Kinda sounds like renting a water heater. lol something smells fishy! Link to comment Share on other sites More sharing options...
leaf4 Posted April 22, 2015 Report Share Posted April 22, 2015 A lot of these rebates are give us a boat load of money so you can jump through hoops to earn the rebate, generally not worth it imo I do sheet metal (commercial and industrial) so I don't have any input on the actual process but keep in mind the more high tech furnace you get the more it costs to service. The guy I work with just got a new to him house and reliance sold the rental of a furnace plus all the gadgets to the previous owner, the buyout was $9300 and for his UV rated filter its $46 our cost at one of our wholesalers! Craziness! The furnace is very efficient gas wise, where my high EFF costs me $150/month his costs him 80, though my house is built in the 50's and his the 80's or 90's Link to comment Share on other sites More sharing options...
John Bacon Posted April 22, 2015 Author Report Share Posted April 22, 2015 One advantage of this deal is that the equipment would be their responsibility. If it breaks down, they will have to fix it. I am not sure that offsets the costs though. Link to comment Share on other sites More sharing options...
aplumma Posted April 22, 2015 Report Share Posted April 22, 2015 A well maintained unit does not lose 2% of its efficiency per year. Renting any appliance is not advisable it locks you into them maintaining the system at their convenience as well as nothing to show for your spent dollars. You pay off your system that you financed in 5 years and for the next 5 years you have no payments. If you save the money from the second 5 years you can pay cash for the next system. Art Link to comment Share on other sites More sharing options...
Canuck2fan Posted April 22, 2015 Report Share Posted April 22, 2015 (edited) One advantage of this deal is that the equipment would be their responsibility. If it breaks down, they will have to fix it. I am not sure that offsets the costs though. That isn't true.... The new furnace my parents bought on a plan had to be bought out because the house was "sold". After they bought out the contract the next week, so the sale could go through the following week, it required 4 service calls. All those calls were covered under the 10yr warranty parts and labour by the manufacturer. So while Reliance had told my parents they were covered by the "plan" Reliance was billing the manufacturer. If my parents would have of paid cash for the furnace they would have had the same warranty and paid less overall. Basically it was all lies about the rebate, all lies about the efficiency and more lies about who was covering the warranty. If I ran a business like that I would be in jail but since they are a big energy company they are billionaires LOL. Edited April 22, 2015 by Canuck2fan Link to comment Share on other sites More sharing options...
captpierre Posted April 23, 2015 Report Share Posted April 23, 2015 Put in new high efficiency furnace and AC about 5 yrs ago. Went with Lennox after researching a lot. Had a failure first month on the furnace under warranty Dealer recommended an annual check and cleaning in the fall. That's what I do ($130) Said high efficiency furnaces are touchy. They make water and have electronics. So far no new problems and use lots less gas than the old furnace. Quieter too Link to comment Share on other sites More sharing options...
John Bacon Posted April 23, 2015 Author Report Share Posted April 23, 2015 well, will a 24% increase in efficiency save you $124.95 + hst a month that would need to be almost quarter of your bill if my math is working so are you paying 500 a month now You're right. The figures don't add up. I spent about $1,100 on gas and $1,450 on hydro in the last 12 months. They would need to save two thirds of my energy costs in order to cover the monthly payment. They supposedly guarantee the savings; I don't imagine that it would be easy to collect on that. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now