Updating your old Furnace, Washer, or Water Heater: Which will save the most?



We are all on the lookout for ways to cut down on our utility bills, aren’t we? It turns out, some of the best ways we can save on these costs every month are already in our homes – they just might need a bit of fine-tuning. Unless you already have an energy-efficient furnace, water heater, and washing machine (in which case, good for you!), we think you should seriously consider making the investment to upgrade.

You will not only be doing your part to conserve water and energy, you will also be on the fast track to yearly savings. As C.M. Mack, for EcoLiving at Scotiabank, says, “Updating these workhorses to the most energy-efficient models will immediately slash your energy or water use. Invest in all three and save $482 each year.”

For a good idea of what kind of investment you would need to make, and what sort of return you would get, take a look at this data put out in Mack’s article for Ecoliving at Scotiabank:

Update your furnace

Replace an old gas furnace with a seasonal efficiency rating of 60% with a 98% efficient gas-condensing furnace.

Investment: $4,125 ($5,000 cost minus $875 in rebates)
Save: $1,115 over five years
Save: $223 per year

Update your washing machine*

Replace a 1999 washer with a current Energy Star-certified model using one-tenth the energy and less than one-third the water per year.

Investment: $1,000 (average cost)
Save: $785 over five years
Save $157 per year

Update your water heater

Replace an old 190-litre (50 gallon) water heater with a high-efficiency condensing gas storage tank at least 94% efficient.

Investment: $825 ($1,500 cost minus $675 in rebates)
Save: $510 over five years
Save: $102 per year

*Combined savings for energy and water costs.


See another infographic and more elaborate breakdown on these savings at Scotiabank EcoLiving.

Need help switching out your old appliances with new ones? Looking for more ways to save on your energy bills? Give us a call! We are happy to answer any questions you may have.

Picture from: Recharge Colorado
Chart from: Scotiabank EcoLiving