A few years ago, Jim bought a small chalet near the mountains. He wants retire into this chalet one day. Since he won’t retire for another ten years, he’s rented out the chalet. For the most part, the rent basically covers the cost of his mortgage. As long as there are no big repairs or upgrades needed, he comes out even. However, just last year, there was a pretty major complication with the heat pump installed in the chalet. When he called in a professional Heating and Air Conditioning company for an estimate on repairs, Jim hoped the cost would be minor. The entire heat pump needed to be upgraded and he was not thrilled to hear that. The Heating and Air Conditioning company insisted that the big repair would cost more than upgrade, and not provide long-term consistency. The heat pump was already fourteen years old at the time. He took out a loan to pay for the major purchase and upgrade of the new heat pump. The cost of utilities is included in his rent, so he decided to spend a bit more to get a better, more energy efficient heat pump. The new pump features something the guy called variable speed technology. He said it allows the machine to regulate speed according to demand. The longer cycles that occur at lower capacity conserve energy and minimize some of the wear and tear on all the equipment. He’s kind of envious that his renters are going to enjoy the superior comfort offered by this better, more expensive and innovative piece of technology. By the time he moves in, the heat pump will probably be old and outdated.