3 Financial Facts to Consider About HVAC Systems

A fully functional HVAC system is essential to maintaining indoor air quality and favorable temperatures. As the global demand for heating, ventilation, and cooling rises, so does the industry’s market value. According to Webinar Care’s projections, the global HVAC market could reach $82.5 billion in about five years. The increasing appetite for healthier air and technological advancement are significant driving forces for this exponential growth. Here are some financial facts to help you acquire and maintain effective use of your HVAC system.

1. HVAC Financing Options

HVAC systems may have you digging deeper into your pockets. As a result, you may need some support to finance the systems out of pocket. To achieve this, consider alternative financing options. Most people turn to unsecured loans, similar to unsecured personal loans. This means you do not need various vendors’ collateral for an HVAC loan. While most people go straight for personal loans, there are various financing alternatives, including:

    • Emergency funds: Every financial advisor preaches about saving manageable amounts every month to cater to essential needs. A broken cooling system qualifies as a basic need during the summer when temperatures are extremely high.
    • Credit card: You can leverage a low interest to get a new HVAC system. If you are lucky, you may qualify for a credit card with 0% APR. However, failure to pay on time may lead to hefty penalties and interest rates.
    • Government financing: In areas experiencing extreme weather conditions, the government may issue financial support for an HVAC system acquisition through the jurisdiction’s Department of Housing and Urban Development. As with any other agreement, there are guidelines, requirements, and terms that applicants must adhere to. It is crucial to read and understand them before committing.

2. Surroundings and Air Conditioning Costs

Working outdoors could significantly reduce air conditioning costs. You can start by maximizing natural ventilation options, like opening doors and windows during cooler times. Ceiling fans could aid air movement in and out of the rooms as well.

Strategically planting trees around your building could also help lift the load on your HVAC system by cooling the surrounding air. According to environmental experts, trees can reduce air conditioning costs by up to 30% and can save customers between 20–50% in energy costs used for heating. Trees with more shade cover work better at protecting your home than smaller ones. Regardless, investing in smaller trees qualifies as an investment for the future.

However, some trees may pose a danger to your unit by creating obstructions. The best places to plant trees are along pavements or hedges to create cooler temperatures. As you shop for a new heating and cooling system, remember that your locale dictates the appliance’s type, size, and placement. Your location can also affect the HVAC installation due to humidity levels, home age and size, and seasonal temperatures.

3. Thermostat Operation and HVAC Cost-Effectiveness

A thermostat is a primary control unit on a heating or cooling system. It monitors a room’s ambient temperature and switches heating devices on and off depending on a setpoint. According to the Department of Energy, setting your HVAC’s thermostat back 7-10 degrees for about 8 hours every day can help you save up to 10% on annual heating and cooling costs.

Buildings in milder climates stand to benefit more than those in extreme climates. Additionally, it is easier to save energy during colder seasons, especially during winter. You can change the thermostat settings to higher temperatures during the day and lower at night or when you leave the house. Note that manual thermostats work more effectively than programmable ones, as the latter will automatically restore normal temperatures to prevent discomfort. Nevertheless, having control over your thermostat settings will considerably help you save on energy costs.

These financial facts should guide you when purchasing and using an HVAC system. They also help you optimize the functionality of your heating and cooling system, thus reducing repair costs and promoting its longevity.