When you are having trouble with your HVAC system, determining whether to replace it or have it repaired is not always an easy decision. This is especially true in emergency situations where you need to find a solution fast. While there is no absolute rule that dictates which option is best, there are a few factors to take into consideration that will help you determine which option is right for you.
Should you repair or replace your HVAC system? Let’s take a closer look at a few things you should consider.
Age of the System
If your HVAC system is nearing the end of its expected lifespan, repairing it could cost a lot of money and only prolong the inevitable. Furnaces tend to last 15-20 years, and heat pumps and air conditioners generally last about 10-12 years. If your system is getting on in years, replacing it may be the wiser investment.
It is also important to note that many older air conditioning systems use R-22 refrigerant. Because of this refrigerant’s negative impact on the environment, it is being phased out in the US, and it is becoming increasingly scarce. Older systems using R-22 are becoming more difficult – and much more expensive – to repair. If your AC uses this type of refrigerant, you will eventually need to replace it.
Remember that technology is constantly advancing. If you have an older system, it probably doesn’t have all the features that are present in newer ones.
Cost of Repair
As a general rule of thumb, it’s a good idea to replace a product when the estimated cost of repairing it is more than 50% of the cost of purchasing a new one. Also, if you find yourself needing to have your system repaired more and more frequently, those expenses can add up fast!
Tax Credits and Rebates
Upgrading a more energy-efficient HVAC system could make you eligible for local and state tax credits. There may even be federal tax credits available.
In Massachusetts, there are also a number of huge rebates that could help you save $100 to $1000 when having a new system installed. Rebates are also available to help homeowners save on heating systems and thermostats. You can check out all of the current rebates here, but here are a few notable examples:
- Electric heating & cooling – Up to $500 Rebate
- Gas heating equipment – Up to $1600 rebate
- Early heating & cooling equipment – Up to $3500 rebate
- Wireless and programmable thermostats – Up to $100 rebate or price discount
At Nicholson, we can help you determine whether repairing or replacing your HVAC system is a better investment. If you decide to upgrade, we’ll let you know about any applicable rebates and tax credits and help you choose the system that is best suited to your home as well as your budget. Call 508-893-4258.