There is a useful new calculator on Natural Resources Canada's website that allows Canadian homeowners to compare the costs of heating their home with their existing system vs. a new system, and to compare different new heating system options. The Home Heating System Cost Calculator factors in cost of fuel source, AFUE of the equipment, type and age of housing, and average annual heating requirements by location. 
According to this convenient tool, in a newer (less than 22 years old) detached home located on Vancouver Island, replacing a standard efficiency oil furnace or boiler with an air-source heat pump could potentially save the homeowner more than $1000 annually in heating costs. In an older home with an old inefficient oil furnace, installing a new heat pump system may garner annual energy savings of over $2,300. Replacing electric baseboard heat with a heat pump system in a newer detached home could reduce hydro bills by over $900 per year. Our moderate climate on Vancouver Island is ideal for air-source heat pumps, allowing homeowners to enjoy the benefits of the energy-efficient heat pump without the substantial cost of installing a geothermal loop. And with the new inverter technology now available, air-source heat pumps can perform effectively at much lower outdoor temperatures, reducing the need for an auxiliary heat source during cold weather. Given the relatively high and increasing oil and gas prices on Vancouver Island, air-source heat pumps are now more than ever the best choice for heating your home efficiently and cost-effectively.
Contact Envirotemp today to get a free estimate on replacing your inefficient fossil fuel or electric resistance heating system with a new energy saving heat pump system.
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