If your old furnace is shot, you are probably asking, “How much do oil furnaces cost?” We bring you the answer in this article along with some prices for you to compare. There are several factors that affect cost. We’ll take a look at those before providing oil furnace prices on current models.
What Affects Oil Furnace Costs?
Quality: There are 2 basic levels of quality in oil furnaces that we review: Good and excellent. There are some low-quality models on the market but we avoid them. None of the top manufacturers make a poor-quality oil furnace. By looking at the warranty information you can tell whether the furnace is the best made by the manufacturer or the second-best. Top of the line oil furnaces are usually backed by a 10-year parts warranty. Good-quality models often have a 5-year parts warranty. High-quality oil furnaces cost 10% to 15% more than good-quality oil furnaces.
Efficiency: There are 2 basic efficiency levels as well. Oil furnaces with a single heat exchanger average 80% to 83.5% efficiency. Those with a secondary heat exchanger included offer 85% to 87% efficiency. If you live in climate with a long heating season, those few percentage points will add up over the winter and choosing a higher-efficiency model might be worth the 10% extra they typically cost. In addition, an oil furnace needs to be 85% efficient to be rated an Energy Star product. If there are tax credits still offered in your state for installing Energy Star equipment, then that is something to consider.
Size: It probably goes without saying that, all else being equal, the more Btu’s of heat the furnace creates, the more it will cost. Rather than base furnace size on cost, it is essential to have a load calculation done that will determine the right size furnace for your home.
Sample Oil Furnace Prices
We’ll use oil furnace models in the 110,000 to 120,000 Btu range for comparison sake. We categorize these furnaces based on quality and efficiency.
Good quality, standard efficiency (80-84%):
82.9% American Standard Silver SI Freedom 80 oil furnace: $1,479
83% Lennox Elite Model Number O23 oil furnace: $1,689
Good quality, high efficiency (85-87%):
85.9% Ruud ROLA Lowboy oil furnace: $1,649
85% Trane XV80 oil furnace: $1,759
High quality, standard efficiency:
83% Armstrong Air 80 Downflow/Horizontal LUF80C57/72V12 oil furnace: $1,779
83.5% Carrier Performance VS 80 / 58VMR oil furnace: $1,839
High quality, high efficiency:
86.6% Carrier Performance OVL oil furnace: $1,849
86.6% Bryant OVM oil furnace: $1,899
How much do oil furnaces cost? These oil furnace prices show how quality and efficiency affect price. Sometimes brand name/reputation makes a difference as well. You will find reviews for these models and many others on this site as you research possible choices for your home’s next oil furnace.