Lennox Elite EL296V Review

Lennox has three distinct furnace tiers, and the EL296V is one of the mid-range Lennox Elite series furnaces. This means it will cost more and have more features than their entry-level heating systems, but it will have fewer features and cost less than their premium models.

This model review will help homeowners who are considering a new Lennox furnace. We’ll help you decide if this model might be a good fit for your home by discussing Lennox furnace prices and installation costs. The review will also cover the EL296V’s efficiency rating, energy star status, burner and blower types, features, and warranty details.

We’ll also compare it to three other Lennox models so you can see where the EL296V stands in terms of price and features, and how it compares to another furnace in the Elite tier.

The Lennox Elite EL296V in a Nutshell

Average Price (with installation): $6,800 to $7,400

Top Features

• Better fuel efficiency and reduced heat waste thanks to the secondary heat exchanger
• Variable-speed blower improves efficiency while reducing operational noise
• High-efficiency AFUE
• Likely to qualify for rebates
• Compatible with the iComfort E30 smart thermostat
• Offers quiet operation
• Equipped with proprietary Lennox components
• Promises excellent humidity control
• Backed by a standard warranty
• Ready to be paired with a humidifier and air filter
• Can provide excellent summer humidity control when paired with a compatible air conditioner
• Natural gas furnace

The Bottom Line

When you're looking at high-efficiency furnaces and have a large budget for an upgrade, the EL296V could be a great option.

It’s a two-stage, variable-capacity gas furnace with condensing technology (two heat exchangers), so it will keep your home consistently warm and reduce energy costs.

The EL296V can operate in the lower speed most of the time to save energy and maintain the temperature of your home, and it can make incremental adjustments to the airflow for more efficient operation, lower noise levels, and fewer hot and cold spots in the house.

This Lennox model shouldn’t have any trouble keeping your home warm through the coldest winters, even if you live in a larger house with higher heating demands.

However, the EL296V does come with a hefty price tag, and it doesn’t have as many special features or as good of a warranty as some of the other gas furnaces on the market.

In Depth Review

Lennox Elite EL296V Product Specifications

• AFUE: 96 percent
• Burner type: Two-stage
• Blower type: Variable-speed
• ENERGY STAR certified: Yes

Features Overview

The EL296V is a variable-speed furnace made with sound-absorbing materials, so it’s very quiet. It’s also made with proprietary Lennox components, including the SureLight® silicon nitride ignitor and Duralok Plus™ heat exchanger.

And for easier maintenance and potentially lower labour costs, this gas furnace also has a seven-segment LED display that shows diagnostic codes. The codes are safe from power outages and stored for future use. The EL296V can hold up to 10 diagnostic codes in order of occurrence.

Perhaps one of the best things about the EL296V is the advanced features that are unlocked when you run it in conjunction with Lennox’s proprietary smart thermostat, the iComfort E30. Here are some examples of what the iComfort E30 can do:

• It has an energy-saving away mode
• It has geofencing and can put your furnace into an energy-saving mode when you leave the house
• It can monitor the air quality outside and change the fan settings to protect your indoor air
• It can be paired with devices like Alexa and HomeKit for additional features like voice control

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Other Key Features

• Heat loss and air leaks are reduced thanks to the sealed blower compartment
• Furnace can be paired with Lennox’s PureAir system for improved indoor air quality
• Efficiency and cost-savings can be improved by taking advantage of the model’s dual fuel compatibility when paired with an electric heat pump
• Designed for fast, easy, and precise installation
• Burners are designed for quiet and long-lasting operation
• Duralok primary heat exchanger is durable and reliable and has a clamshell design that reduces air leaks and increases heat transfer
• Burner maintains its efficiency over the life of the unit

Warranty Coverage

It’s important to consider warranty coverage when looking at a new furnace. Despite their price, Lennox furnace models don’t come with additional warranties compared to other brands. The Lennox Elite Series EL296V is backed by:

• A lifetime limited warranty on the heat exchanger
• A 10-year limited warranty on parts

Once this Lennox furnace is installed, you'll have 60 days to register it, otherwise you'll lose some warranty coverage.  

There are other warranty terms you should be aware of if you want to keep the protection valid. For instance, you'll have to have the unit installed by a licensed HVAC technician. There are also regular maintenance requirements laid out in the warranty terms and conditions or the owner’s manual that you'll have to take care of.

Comparable Models by Lennox

Model Comparison by Price: EL296V versus Dave Lennox Signature Collection SLP99V

All Lennox furnaces are pricey, but their most expensive model is the Dave Lennox Signature Collection SLP99V, which costs between $7,200 and $7,800.

For the additional cost, you get a modulating burner, a variable-speed blower, a superior smart thermostat, and an industry-leading AFUE of 99 percent. When energy efficiency is your main concern, the SLP99V is the best you can get.

Although this furnace is extremely efficient, there are far more budget-friendly furnace models on the market that have modulating, variable-speed capacity and AFUEs around 98 percent.

Model Comparison by Features: EL296V versus Elite EL195NE

While the EL296V has some of the most features of all the Lennox gas furnaces (with the exception of a few, namely the SLP99V), there is one design element that it lacks, and that’s ultra-low nitrogen oxide emissions.

The EL195NE doesn’t have as many great design features as the EL296V because it’s a single-stage furnace with an AFUE of 95 percent and a constant torque motor.

What's more, it has a special burner feature that enables it to qualify as ultra-low NOx emissions, making it a viable option for Canadians who are concerned about the planet and the environmental impact of their home heating.

In Canada, single-stage furnaces are better for smaller homes or milder parts of the country. If you have higher heating demands, then a two-stage gas furnace or modulating furnace will be better.

Model Comparison by Tier: EL296V versus EL196E

The EL196E is also a mid-range Elite series furnace, but it doesn’t have as many selling features. It has the same 96 percent AFUE and ENERGY STAR certification, but it’s only a single-stage furnace with a constant torque motor.

Single-stage furnaces only have one heat output when they're running, so they tend to be noisier and less efficient. Further, the constant torque motor has a couple speeds, but it can’t make minor adjustments to the airflow.

As a result, this furnace might not be as capable of keeping larger homes warm through colder temperatures, and it won’t be as good at keeping the temperature consistent throughout your home.

Opt for modulating or two-stage furnaces when you have a large home or live in particularly cold parts of the country.