Hey everyone! I recently bought a studio condo that came with an electric furnace that's about 20 years old. I was shocked to see my electric bill skyrocket to $200-$300 during the winter. Luckily, it dipped down to under $100 in April. The cooling system doesn't even work; I only turned it on once on a really hot day. Right now, I'm using fans to keep cool. I'm planning to stay here for another couple of years and I'm considering swapping the electric furnace for a heat pump. I've heard it can keep the space cool efficiently and work better in winter too, especially here in Chicago. Any advice on whether this is a good idea or not?
3 Answers
A heat pump could work well for spring and fall, but winters in January and February might still hit your wallet hard. The cost-saving potential during milder months could help offset those brutal winter bills. If you’re considering it, some brands like Mitsubishi offer cold-weather heat pumps, but keep in mind that they can struggle when it's really freezing outside. Plus, if your condo association has rules about HVAC replacements, check on that first.
Make sure you're on the right electric rate for heating! Some companies have special plans that can cut your electric heat bill by a significant amount. If you can switch to natural gas, it might be a cheaper option than a heat pump. And just a heads up, heat pumps can lose efficiency below freezing, especially in really cold temps, which could lead to higher than expected costs.
Definitely reach out to The Electric Home Company for advice! They might have some great insights tailored to your situation. Good luck!