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[Costco] Costco GVRD - Lennox Heat Pumps ($5400-5800)

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Deal Addict
Dec 5, 2003
1129 posts
6 upvotes
North Vancouver

[Costco] Costco GVRD - Lennox Heat Pumps ($5400-5800)

Not that exciting compared to PM digicam and sd card deals, but maybe of interest to other home owners out there.

I was @ the Richmond Costco today and they have some pretty warm deals on heat pumps (Google is your friend if you don't know what this is) around $5400-$5800 depending on the size of your home. Lennox brand, installed and Costco extends the warranty to 10 years.

Looking forward to warm toasty house during Winter, cool nights in the Summer and the savings that a heat pump will bring.
27 replies
Deal Addict
Oct 17, 2003
1190 posts
299 upvotes
Jumbotron wrote:Not that exciting compared to PM digicam and sd card deals, but maybe of interest to other home owners out there.

I was @ the Richmond Costco today and they have some pretty warm deals on heat pumps (Google is your friend if you don't know what this is) around $5400-$5800 depending on the size of your home. Lennox brand, installed and Costco extends the warranty to 10 years.

Looking forward to warm toasty house during Winter, cool nights in the Summer and the savings that a heat pump will bring.
This is really interesting! But how many years would it take to make back your initial investment?
Sr. Member
Jul 11, 2004
811 posts
39 upvotes
$5800 is 1/2 of the amount I was quoted about a year ago for a heat pump installation. Though will need to find out if the energy efficiency and sound levels are equivalent. Do you know if this is a GVRD offering or is it just a 3rd party company that's trying to sell it's wares at the Richmond Costco? I couldn't find any information about heat pumps at the costco.ca site.
Sr. Member
Oct 4, 2005
712 posts
Praetorian wrote:This is really interesting! But how many years would it take to make back your initial investment?
The heat pump will most likely cost you more in the long run when you consider the lost interest for a $5000-10000 investment. The net social benefit will likely be positive though.
Sr. Member
Jan 8, 2005
628 posts
65 upvotes
Windsor
markjia wrote:The heat pump will most likely cost you more in the long run when you consider the lost interest for a $5000-10000 investment. The net social benefit will likely be positive though.
I would disagree. A good quality furnace with AC will cost you $5000-6000.
OP thanks for posting the deal. Can you give us more info on the type of the heat pump?
[OP]
Deal Addict
Dec 5, 2003
1129 posts
6 upvotes
North Vancouver
The model I'm getting is apparently super quiet and very efficient - they estimate that the cost to heat my house in the Winter will be around $1.05 for NG - plus electricity. I think the initial investment pays off in like 6 years.

I'm getting this one:

http://www.lennox.com/products/overview.asp?model=XP15

Costco bought a ton of these units at a pretty big discount and they are installed by a 3rd party independant Lennox dealer.



xaveryptak wrote:I would disagree. A good quality furnace with AC will cost you $5000-6000.
OP thanks for posting the deal. Can you give us more info on the type of the heat pump?
Deal Fanatic
Oct 25, 2002
6849 posts
4 upvotes
Maple Ridge, BC
Jumbotron wrote:Not that exciting compared to PM digicam and sd card deals, but maybe of interest to other home owners out there.

I was @ the Richmond Costco today and they have some pretty warm deals on heat pumps (Google is your friend if you don't know what this is) around $5400-$5800 depending on the size of your home. Lennox brand, installed and Costco extends the warranty to 10 years.

Looking forward to warm toasty house during Winter, cool nights in the Summer and the savings that a heat pump will bring.
In general, Costco is not always the cheapest. I went to the Home Show in Maple Ridge. Local dealers were selling these for about $4200 installed. We paid $4300 for ours 3 years ago.

As for warm toasty nights... heat pumps are very inefficient when the temperature drops below 8*C. Your furnace will kick in then.

They are, however, great in the summer. The air conditioner makes it a worth while investment for us.
Deal Fanatic
Oct 25, 2002
6849 posts
4 upvotes
Maple Ridge, BC
markjia wrote:The heat pump will most likely cost you more in the long run when you consider the lost interest for a $5000-10000 investment. The net social benefit will likely be positive though.
If your house is heated by natural gas, your gas bill will be cut in half. Maybe even more if your house is well built.

We have a heat pump and spend an average of $55/month on natural gas. We have a fully finished 3500 sq foot house, a gas furnace and hot water heater, two gas fireplaces, and a gas outlet for the BBQ. My neighbour doesn't have a heat pump, and his gas bill is 2-3x more than mine.

My electrical bill is about $100/month.

Do your own math.

My thoughts are that you'll get your investment back in 4-5 years.
[OP]
Deal Addict
Dec 5, 2003
1129 posts
6 upvotes
North Vancouver
Mark099 wrote:In general, Costco is not always the cheapest. I went to the Home Show in Maple Ridge. Local dealers were selling these for about $4200 installed. We paid $4300 for ours 3 years ago.

As for warm toasty nights... heat pumps are very inefficient when the temperature drops below 8*C. Your furnace will kick in then.

They are, however, great in the summer. The air conditioner makes it a worth while investment for us.
Are you sure about the price, as well asthe brand - Lennox? I haven't done my normal anal-retentive research on these, but asked a few shops during the Summer and I was getting prices in the 6-8k range and without the 10 year warranty.

Interestingly enough, the dealer installing these units is in Maple Ridge. I can definitely hold-off if I can get this for a grand or more cheaper. Which shop did you purchase from 3 years ago? I'd love to call and get a price.
Deal Fanatic
Oct 25, 2002
6849 posts
4 upvotes
Maple Ridge, BC
Jumbotron wrote:Are you sure about the price, as well asthe brand - Lennox? I haven't done my normal anal-retentive research on these, but asked a few shops during the Summer and I was getting prices in the 6-8k range and without the 10 year warranty.

Interestingly enough, the dealer installing these units is in Maple Ridge. I can definitely hold-off if I can get this for a grand or more cheaper. Which shop did you purchase from 3 years ago? I'd love to call and get a price.
It was installed by Big Valley.

Pricing will obviously depend on how hard it is to install, but if you have a fairly new home with the furnace on an outside wall (or unfinished basement) the installation should not be that difficult.
Sr. Member
Oct 4, 2005
712 posts
Mark099 wrote:If your house is heated by natural gas, your gas bill will be cut in half. Maybe even more if your house is well built.

We have a heat pump and spend an average of $55/month on natural gas. We have a fully finished 3500 sq foot house, a gas furnace and hot water heater, two gas fireplaces, and a gas outlet for the BBQ. My neighbour doesn't have a heat pump, and his gas bill is 2-3x more than mine.

My electrical bill is about $100/month.

Do your own math.

My thoughts are that you'll get your investment back in 4-5 years.
Interesting. I didn't realize the magnitude of the savings. Ya you'd break even based on a modest 5% return investment of $5000 after about 5 years (assuming no maintance costs). A $10000 installation will be upwards of 25 years (depending on the size of the house/savings).
[OP]
Deal Addict
Dec 5, 2003
1129 posts
6 upvotes
North Vancouver
Mark099 wrote:It was installed by Big Valley.

Pricing will obviously depend on how hard it is to install, but if you have a fairly new home with the furnace on an outside wall (or unfinished basement) the installation should not be that difficult.
Small bungalow with finished basement - so probably a PIA to install. I'll give them a shout in the morning - thanks for the info.

Is yours a Lennox?
Deal Fanatic
Oct 25, 2002
6849 posts
4 upvotes
Maple Ridge, BC
Jumbotron wrote:Small bungalow with finished basement - so probably a PIA to install. I'll give them a shout in the morning - thanks for the info.

Is yours a Lennox?
Yes!
[OP]
Deal Addict
Dec 5, 2003
1129 posts
6 upvotes
North Vancouver
Mark099 wrote:Yes!
Thanks for all the great info (experience etc)

A fellow late-night Left-Coaster.
Deal Addict
Aug 16, 2003
3014 posts
537 upvotes
markjia wrote:The heat pump will most likely cost you more in the long run when you consider the lost interest for a $5000-10000 investment. The net social benefit will likely be positive though.
'net social benefit'?

I suspect not.

Have you considered the amount of natural resources that actually goes into the manufacturing of a device such as this? What about the energy required to actually build and transport the unit? The true social costs involved with the processes involved are certainly a lot higher than is reflected in the price paid for the device itself.

It is sort of like when you go out and buy a new car to save 10% on your gasoline consumption. (and perhaps amplified by the fact that you didn't take your old car off the road, but either continue to drive it or sell it to someone else). What does it take to build the car in terms of energy and resources? Answer: A lot more than the gasoline you will save.

What you are doing is benefiting from the uncharged social costs in the production chain.

So to call a spade what it really is: You get it relatively cheaply and hopefully you will save money. However, hiding behind the concept of 'heat pumps are environmentally friendly' is a falacy.


You can't gauge what your savings will be by comparing your bills with your neighbour's since you have different lifestyles - you may take long showers while they may hop in and out without even soaping up. Perhaps you like your home cold in summer and hot in winter. They may want it the other way around. Your home may be drafty. Theirs may have triple-paned, low-E windows and extra insulation in the ceilings. You may leave your garage door open 24/7 and so on.


Paying $10K for a heatpump? Makes me want to go into the business and find 'marks' like you. Anything beyond about $7K for a 5 ton unit installed is a true rip-off.


Since the installation of a heat pump involves running two thin copper pipes and a power circuit to the outdoor unit and installing a condenser in your air handler - there are few installations that should be 'difficult'.


However you should note that unless you actually have a compatible Lennox furnace, you will not realise the full design efficiency. You will save on your heating costs, just don't use their figures to try and make sense of it.
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