Quote:
Originally Posted by YOWetal
I guess new build vs retrofit is a key question but my understanding from looking at a few people who blog their results is it costs something like $10k extra and you save $500 a season. A 5% GIC for $10,000 is already $500 a month. So essentially you are treading water. In 30 years you have a more expensive system to replace. In Ontario at least our electricity costs are subsidized. Take away that subsidy and your costs increase.
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As Warren mentioned, you are getting air conditioning too. And that cooling comes at a cheaper operating cost. So your comparison should include the cost of cooling that is saved and the cost of basically adding air conditioning (if there was none before or had to replaced). For somebody that had no AC or had to replace the AC, the marginal cost of a heat pump over AC is a few thousand and easily made up in a few years.
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