Air Source Heat Pump Cost and Savings
Despite the obvious environmental and efficiency benefits of installing an air source heat pump, it’s still important to consider the overall cost of installing a system into a property.
Depending on the type of heating you choose, such as radiator-based, or underfloor heating, a heat pump installation can be expensive. However, thanks to air source heat pump grants and savings, the systems can quickly pay for themselves.
On average, the Energy Saving Trust suggests that installing a typical system could cost between £7,000 and £11,000. The time taken to recoup the cost of this system in energy savings will depend on the efficiency of your air source heat pump, what kind of system you will be replacing, and whether you can access money with the RHI.
Air Source Heat Pump Running Costs
Air Source Heat Pump Running Costs will depend on several factors, including the size of your home, how well-insulated the property is, and what kind of room temperatures you are aiming to achieve. The savings any person can access with an air source heat pump will come down to lifestyle choices and individual circumstances. Factors to consider include:
- Your Heating distribution system: For those who have the opportunity, installing underfloor heating can be more efficient with air source heat pumps than radiators – because the water doesn’t need to be as hot. If it is impossible to install underfloor heating, or would require excessive work, then many experts recommend using larger radiators to allow for a wide surface area for heat to move through.
- Your fuel costs: If you are currently using specific fuels such as gas, oil, or coal, you should be able to save money on these materials instantly. Though air source pumps still require electricity to run, they often consume smaller amounts of electricity than traditional heating systems.
- Your old heating system: Many older heating systems and boilers are inefficient. This means that switching could leave you with lower air source heat pump running costs.
- Water heating solutions: If your heat pump is also providing hot water then it may limit your efficiency over all. There are additional options available for people in search of sustainable water heating. However, it is often much easier to use an air source heat pump as a comprehensive solution.
- Your controls: Learning how to properly control your system thermostat should help you to get more out of it. Though you may need to set your heating to work for longer hours, you should be able to set it at a lower temperature and feel equally comfortable.
Besides lower running costs, people who install air source heat pump systems can often benefit from additional financial help in the form of government schemes like the Renewable Heat Incentive. This scheme is no longer available for domestic residencies in Northern Ireland, but you may be eligible for additional grants.