How much does an electric furnace cost?

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Electric furnaces are one of the best solutions for heating your home when access to alternative fuels isn’t available. Many of our customers have asked how much they cost? In this video we’ll go over the options and price ranges for electric furnaces that could work for you.

Video Transcription

Electric furnaces are one of the best solutions for heating your home when access to alternative fuels isn’t available. Many of our customers have asked how much they cost? In this video we’ll go over the options and price ranges for electric furnaces that could work for you.

Hi, I’m Luke with Fire & Ice. Did you know that nearly 40% of homeowners in the United States use electricity to heat their homes? Even though most of our customers here in Central Ohio use natural gas, we have thousands of customers asking us about electric furnaces and how much they cost. In this video we’ve broken electric furnaces into three categories: entry-level, mid-range, and high-end. In each category we’ll go over a range of prices, some specific models, features and benefits, and see who might benefit most from that type of electric furnace. By the end of the video, we hope you’ll know the typical costs associated with electric furnaces and air handlers and give you a better idea of which type is right for you.

Entry-Level Electric Furnaces

Let’s begin and explore entry-level electric furnaces. If you are looking to install an entry-level electric furnace in your home expect to pay anywhere between $3,400 and $4,950. At Fire & Ice all of our estimates include the cost of equipment, labor, and any additional fees. Keep in mind that there are a number of factors that can fluctuate the price including the size of the equipment, location, and any installation modifications to ensure a proper installation. We like to say there’s no one size-fits-all solution when it comes to HVAC. An example of an entry-level electric furnace is the Trane TEM4. With entry-level electric furnaces you will typically find a single-stage blower meaning it is either off or on providing reliable, straightforward heating for your home. An entry-level electric furnace will meet any minimum heating requirements for your home. If you are a homeowner on a budget, looking to sell your home in the near future, or don’t have a need for heat an entry-level electric furnace could be for you. If you’re needing more oomph during the winter, though, it might be worth considering an electric furnace with more features.

Mid-Range Electric Furnaces

Mid-range electric furnaces are the next category and come with more features and benefits. Mid-range electric furnaces range between $4,300 and $6,550. Like the entry-level furnaces their price can be affected by the size of your home, the location, and any modifications needed during installation. Some examples of a mid-range electric furnace would be the Trane TEM6 or the TEM8. With Mid-range electric furnaces, you’re going to see cost savings in energy thanks to its multi-speed blower motor. Mid-range electric furnaces are ideal for homeowners who are looking to reduce their energy bill without spending a fortune to do so. Also, mid-range electric furnaces can solve comfort problems like uneven temperature thanks to their multi-speed motors. However, if you have a lot of heating and cooling issues, you will see the most benefit from our next category of electric furnaces.

 High-End Electric Furnaces

Now onto our final category, high-end electric furnaces. The typical price range for a high-end electric furnace can range between $6,250 and $7,600. These prices can change based on a number of factors including the size of your home, the location of the system, and any modifications needed during installation. Some examples of high-end electric furnaces include the Trane TAM9 or the Trane GAM5. So, what is so special about high-end electric furnaces? Variable speed blowers that ramp up or down based on your needs, communicating technology, customized comfort settings, whisper quiet technology, and energy efficiency and savings just to name a few. If you are a homeowner and looking for ultimate control over your indoor comfort, and wanting to save on your utility bills, a high-end electric furnace might be for you. I will say this category is not for everyone though. If you don’t have many comfort problems or you’re on a budget, a mid-range or even entry-level electric furnace may better meet your needs.

Heat Pumps and Pairing

It should be noted that with all electric furnaces, regardless of type, they are 100% efficient since all the energy used goes directly to heating your home.  However, heating your home with electricity can be expensive due to the cost of electricity. If you live in a region where winters can be harsh and rely on electricity to heat your home, it is recommended to pair your electric furnace with a heat pump. A heat pump takes the burden of heating your home away from your electric furnace in milder temperatures and your electric furnace is used as auxiliary heat. Heat pumps can range in price between $5,500 and $13,000. When choosing a heat pump, it’s important to have one that is compatible with your electric furnace. Consult with your local HVAC professional to go over your options. 

What are the next steps in the process?

Now that you know the typical cost of an electric furnace, head over to our products page to see a complete list of comfort levels of efficiency ratings for each furnace. If you’re in our service area and would like to schedule a time to meet with one of our residential sales professionals click the “free estimate” button on our website. Thank you for watching and we look forward to making your day better.

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