Last updated on December 21st, 2023 at 03:08 pm
The annual running cost of a heat pump is approximately £870, while a gas boiler costs around £820 annually, according to Octopus Energy. A heat pump is said to be far more efficient and low on the carbon footprint. Notably a gas boiler runs at 90% capacity or usage, but a heat pump can run at 300% or 500% usage making more efficient and it could save you around £400 or £500 per year compared to a typical boiler.
In this guide, we look at the running costs of heat pumps, the different types available, suitability for your home and most importantly the potential savings the heating system could save you on your bills. Warmable is here to help decide if heat pump installation is the smart choice for your home.
Can I Save Money on My Bills with a Heat Pump?
Heat pumps are celebrated for their energy efficiency, which typically results in lower energy bills compared to traditional heating systems. However, the actual impact on your bills will vary based on several factors, including the type and efficiency of your chosen heat pump, your property’s insulation, and the local climate conditions.
As a rough estimate, the running cost of an air source heat pump in the UK is approximately £1,200 per year for a three-bedroom house, assuming an electricity price of 28p per kWh. Homes with superior insulation and milder climates generally experience lower running costs. Conversely, poorly insulated homes in colder regions may incur higher expenses.
The table below outlines potential savings in the UK of using a heat pump compared to a:
| England, Scotland and Wales | Northern Ireland | |
| Gas Boiler (G-rated and below) | £385 saving | £930 |
| Storage heaters (Electric) | £1,100 saving | £1,100 |
| Oil Boiler (G-rated and below) | £455 saving | -£130 |
| LPG boiler (G-rated and below) | £460 saving | £720 |
Source: Energy Saving Trust
To get a precise evaluation of your potential savings, let Warmable find you a heat pump specialist in your local area today. They can assess your specific circumstances and provide detailed insights into the potential cost savings your heat pump can deliver.
What Types of Heat Pumps Are There?
When it comes to heat pumps, diversity reigns supreme. Various types cater to different needs and preferences, making it essential to understand your options. Below are the most common types of heat pumps and details on how they work:
Air Source Heat Pumps (ASHP)
Air source heat pumps are the all-rounder in the heat pump family. These systems extract heat from the outdoor air and can provide both heating and cooling. Their versatility and relatively straightforward installation process have made them a favorite among homeowners.
Ground Source Heat Pumps (GSHP)
Ground source heat pumps tap into the consistent temperature of the ground to provide heating and cooling. While installation is more complex due to the ground loop, they offer exceptional efficiency and reliability.
Air to Water Heat Pumps
Focusing on heating and hot water, air to water heat pumps are an excellent choice for those who seek comprehensive heating solutions. These systems are highly efficient and can make your home warm and cozy.
Geothermal Heat Pumps
Geothermal heat pumps draw heat from beneath the Earth’s surface. This method is incredibly efficient and eco-friendly but typically requires more extensive installation involving drilling and ground loops.
Hybrid Heat Pumps
Combining traditional heating sources (such as gas boilers) with heat pumps, hybrid heat pumps provide flexibility and energy efficiency. They’re a versatile option for a wide range of setups.
How Much Does It Cost to Install Different Heat Pumps?
The cost of installing a heat pump can fluctuate widely, influenced by various factors. The primary determinants include the type of heat pump, system size, and the complexity of the installation. Let’s delve into these costs:
- Air Source Heat Pumps: Installation expenses for air source heat pumps can vary greatly. You might pay anywhere from £1,000 to £17,500, depending on the specific type of air source heat pump you select.
- Ground Source Heat Pumps: Ground source heat pump installations are typically more expensive due to the ground loop’s installation. Costs can range from £8,000 to £30,000 or even higher, contingent on your unique circumstances.
- Air to Water Heat Pumps: Costs for air to water heat pumps generally fall within the same range as air source heat pumps, as they share similar installation processes.
- Geothermal Heat Pumps: Geothermal heat pump installations tend to be among the costliest due to drilling and ground loop work. Expenses may start at £10,000 and can potentially exceed £30,000 based on your requirements.
- Hybrid Heat Pumps: Costs for hybrid heat pumps vary significantly, determined by the specific system configuration and your individual needs.
Is My Home Suitable for a Heat Pump?
The suitability of your home for a heat pump is contingent on several critical factors. For optimal results, your home should be well-insulated. This will ensure that your heat pump operates efficiently, delivering maximum performance.
- Climate: Local climate conditions also play a substantial role in determining suitability. Milder climates tend to result in lower running costs, whereas poorly insulated homes in colder regions may experience higher operating expenses.
- Choice of Heat Pump: The heat pump’s type and efficiency are equally vital. While air source heat pumps may be less efficient in very cold climates, they remain cost-effective even during the UK’s chilly winters, which typically don’t drop far below 0°C.
- Home Insulation: The extent of your home’s insulation and your personal energy requirements will impact running costs. To maximise your heat pump’s efficiency and effectiveness, it’s essential to have a well-insulated home and to carefully assess your heating needs.
If you’re unsure whether your home is suitable for a heat pump, don’t hesitate to contact Warmable today and consult our network of certified professionals. They possess the expertise to determine the ideal heating solution for your specific circumstances. You can also use the UK Government’s helpful tool to determine if a heat pump is suitable for your home.
Are There Government Grants Available for Heat Pumps?
Indeed, there are government grants and incentives in place to encourage the adoption of heat pumps and other sustainable heating solutions. Two prominent programs that offer financial support for homeowners include:
Domestic Renewable Heat Incentive (RHI)
The RHI program is designed to support homeowners who install renewable heating systems, including heat pumps. It provides ongoing payments based on the heat output of the system, making heat pumps more financially attractive.
Energy Company Obligation (ECO)
The ECO is an obligation on energy suppliers to assist low-income households in enhancing their energy efficiency. As a result, it can provide funding for heat pump installations, making these systems more accessible to a broader range of homeowners.
By exploring these grants and incentives, you can significantly reduce the overall cost of your heat pump installation. These programs not only lower your environmental impact but also improve the financial feasibility of sustainable heating solutions. For comprehensive information and eligibility criteria, be sure to refer to the government links provided.
Choose Warmable for Your Heat Pump Installation
Warmable is your trusted partner for heat pump installations. Our extensive network of certified engineers and plumbers ensures you receive top-quality service. We meticulously vet all professionals to guarantee their expertise and experience in managing your heating needs.
Our service is entirely fee-free, and all quotes are provided without any obligation. At Warmable, we are committed to delivering fair, transparent pricing for exceptional service. Whether you require a heat pump installation, servicing, or repairs, Warmable offers the best rates in your area.
When you choose Warmable for your heat pump installation, you’re opting for a sustainable, cost-effective, and eco-friendly heating solution. Get in touch with us today to explore your heat pump options and embark on a journey toward efficient and sustainable home heating.
