Take a look at this…
NJ Natural Gas has requested a $222.6M base rate increase. Dawn Furnas of NJBIZ says,
“New Jersey Natural Gas filed a petition with the New Jersey Board of Public Utilities requesting a $222.6 million increase to its base rates. According to Jan. 31 announcement from the Wall-based New Jersey Resources subsidiary, the increase will support $850 million in infrastructure investments that are not reflected in its current rates. If the proposal is approved, the bill for a typical NJ Natural Gas residential heating customer using 81 therms a month will jump $29.01.”
Yes, so unfortunately it looks like your gas bill will increase as the months and years continue. This is all happening right around the same time the current administration announced $63 million to accelerate electric heat pump manufacturing across America. $63 million might not seem like a lot, but it’s only the beginning. It’s a game and we are stuck in the middle of it…
According to Energy.gov:
As part of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) today announced the availability of $63 million to accelerate the growth of domestic manufacturing of residential heat pumps, heat pump water heaters, and other heat pump systems and components. This investment from President Biden’s Inflation Reduction Act—invoked by President Biden’s use of emergency authority on the basis of climate change— utilizes the Defense Production Act (DPA) to increase domestic production of key clean energy technologies, including electric heat pumps. This funding opportunity builds on a successful first round of $169 million in funding to manufacturers of heat pumps and components in November 2023. Electric heat pumps are critical to lowering energy costs for families, reducing the nation’s reliance on fossil fuels, bolstering national security, and tackling the climate crisis.
At the end of the day, your energy costs will now also be very expensive. Gas or electric, your pockets will be hurting moving forward…
Gas furnace, Heat Pump or Hybrid?
At Rostron Premium Home Services, we install Heat Pumps, Gas Furnaces and a hybrid version of both. What is a hybrid? – A hybrid system, also called a dual fuel heat pump, is made up both an electric heat pump and gas furnace. The system alternates between using each of the two units, depending on the season, temperature, and function needed, to maximize efficiency and effectively heat and cool your home all year long.
You’re the home owner, it’s really going to come down to what best fits your needs and budget.
Gas Furnace – Heat Pump Tax Incentives
The tax incentive alone is pushing a lot of people to choosing people to steer heat pump. Largely because the tax incentive is over a thousand dollars more for installing a heat pump instead of a gas furnace. The incentive for replacing your gas furnace with a qualifying heat pump is up to a $2,000 tax credit. The incentive for replacing a gas furnace with another qualifying gas furnace is only a few hundred dollars.
Rebates and incentives for installing a heat pump in your home are one of a kind. If interested call our office at 732-223-8221 – you can speak to one of our Project Managers for a FREE estimate.
Gas Furnace – Heat Pump Technical Differences (in simple terms)
A gas furnace uses both natural gas (and propane) as well as electricity to heat your home or building. It uses electricity to power the fan that moves the heated air and gas to produce the flame that heats.
A gas furnace utilizes a “straight AC” condenser outdoors and an “A coil” connected to the furnace to provide cooling.
A heat pump uses electricity only and doesn’t burn gas fuel. The electricity is used to power the same type of fan found in a furnace as well as a compressor that pumps refrigerant. As the refrigerant moves between the indoor & outdoor coils it transfers heat into your home.
A heat pump provides both cooling & heating using a heat pump condenser outdoors and an air handler indoors.
Cold Climate Heat Pumps
In recent years, more and more manufacturers have developed better “cold climate heat pumps”. It’s not unusual to see data sheets on cold climate heat pumps that remain operable in temperatures below -30°F nowadays.
Which Offers Better Heating Performance
15 years ago, if you asked us which performs better gas furnace vs heat pump, we would say to choose the gas furnace. Today, with so many inverter-driven, variable speed heat pumps available we probably will say the inverter heat pump. However, both work and it all depends on what best fits your budget and comfort. Remember, you can install both, a hybrid system.
Gas Furnaces – Heat Pumps Today & Past
Like everything else the technology of both gas furnaces and heat pumps have advanced exponentially. Gas furnaces are far safer, burn cleaner, and operate more efficiently than the gas furnaces of the past. Heat Pumps no longer have the performance issues and “quirks” they once did in cold weather.
Again, clearly gas furnaces are in the EPA’s crosshairs. HVAC equipment manufacturers have taken notice and there’s been a shift towards advanced heat pumps from every brand.
That said, when facing the question, what’s the future hold for gas furnaces vs heat pumps – my money is on heat pumps. Even Elon Musk, founder of Tesla, the electric car company is currently working on the next generation of heat pumps.
At the end of the day, just choose the right HVAC contractor!
For premium air conditioner service & replacements give us a call. Rostron Premium Home Services, located at 2490 Tiltons Corner Road in Wall Township! 732-223-8221.
