Well, I decided to bite the bullet and get our really old, inefficient gas furnace yanked out in favor of a new-tech furnace.  We are redoing our basement and it's a great time to remove the old clunker (literally) and move into the 21st century.  I'm excited!  I decided to make this a project for my blog (are you REALLY surprised?) and will report on the changes in my bills and air quality. 

I settled on letting a highly reputable company handle the install - UGI, our regional gas provider, who does sales and service of gas heating and AC systems.  The estimator, a Margaret Wenger, came out yesterday to price my replacement. The price came in at $3,320 for a new furnace, AC coil and related work (which is fairly heavy as old as my system is).  I was happy knowing what I know about system prices, but to get a second opinion I called my friend Steve Iseman, who is an analyst for Metropolitan Edison over in York County.  He agreed that the price was good, so away we went!


The unit I am getting is an EnergiAir GMH95, which is made by Goodman Manufacturing for UGI, who renames it.  It's a 95% AFUE efficient unit (wow!) with 2 stage operation and multispeed functionality.  Pretty cool (pardon the pun).  The 2 stage feature is neat - the blower slows down as the load on the unit decreases, to save energy.

One interesting thing came up that I hadn't planned for - UGI offers the "Keystone Help" financing program for it's energy-efficient upgrades.  The 95% efficiency units qualify.  The program is an up-to-10 year financing term for only 8.99%.  It can go to 6.99% in certain cases of reduced income.  As an example, a $2,500 loan would be $32 per month for 10 years.  There is no prepayment penalty.  All this is underwritten by the PA Treasury Department.


I was interested.  I'm going to do the financing so I can write about how it works for the benefit of my readers who are considering an energy-efficient upgrade and can't pay in full.  This could be great for the bigger-ticket items like PV solar or Geothermal.

The install date is the 18th, so I'll give an update then!

 

 

 
This post has been included in Pennsylvania Information

8 Comments on Keystone Help Financing for a New Gas Furnace

JUL
13
2007
276,905 Points 3 Featured Posts Localism Sponsor Outside Blog
Sounds like a useful program, Jeff.  Good luck with your remodeling project.
5:02pm • #1
197,658 Points 56 Featured Posts Localism Sponsor Outside Blog
This is neat. I can't wait to hear your utility bill changes in the winter.  It's amazing that they have a financing program.  Did you know that there is a Refi Loan for EEM's?  Keep us posted!
7:16pm • #2
JUL
14
2007
2 Featured Posts
Excellent Jeff - Please post a link on my new GREEN RESOURCE DIRECTORY Financial Services Blog along with a short summary! Thanks for the information! Gotta keep the new baby warm!
9:19am • #3
JUL
15
2007
JUL
19
2007
265,188 Points 59 Featured Posts Outside Blog
Let me know how it goes Jeff, I'm very familiar with the program and company.
7:09am • #7
APR
15

I am also participating in the Keystone program for converting my oil furnace into gas. My price is a little higher for disposal of my old oil tank, replacing furnace & water heater, putting new thermastat, and closing off my chimney for $6,670. However my finance is 5.90 percent for 10 years with no early payoff penalty. I think that it is a wonderful benefit for single mothers to not have to pay that much money up front. I sure don't have that kind of money to just hand out. I'm not sure what my new equipment looks like , UGI reassures me that I will be very pleased.

Janet Wilson
10:08am • #8

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Jeff Geoghan MBA - Lancaster PA Real Estate Expert

Lancaster, PA

More about me…

The Jeff Geoghan Realty Group, Coldwell Banker Lancaster PA

Address: 1000 North Prince Street, Lancaster, PA, 17603

Office Phone: (717) 735-8400

Cell Phone: (717) 799-0851

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A news & discussion forum for all things Lancaster County PA focusing on real estate, historic homes, "green" building, energy-efficiency and articles on life in Lancaster County.

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