How much does it cost to install a heat pump?
When it comes to providing heat for our homes we’re no longer a slave to conventional and expensive methods. Renewable forms of heating are revolutionising the home heating market, and none more so than heat pumps.
Heat pumps like air source heat pumps and ground source heat pumps are a viable way of generating renewable heat for your home. For energy consumers who aren’t connected to the National Grid heat pumps are a serious solution to lower heating bills without compromising on warmth and comfort. And for the environmentally conscious homeowner there’s the added incentive of being kinder to the environment by cutting your carbon footprint.
But the benefits don’t just end there.
The Government has introduced a scheme called the Renewable Heat Incentive (RHI), which pays adopters of renewable heating money for producing their own heat. Both ground source and air source heat pumps qualify for the scheme.
Think of it as a little thank you present from the Government for switching from expensive and emission heavy fossil fuels.
Renewable heat. We like to think of it as the gift that keeps on giving.
If you meet the eligibility criteria, you”ll be paid quarterly for seven years when the domestic RHI launches in April 2014. The amount you can earn varies depending on the type of renewable heat system you have installed. If you have a ground source heat pump you’ll receive 18.8p/kWh, whilst an air source heat pump pays out 7.3p/kWh.
Of course that’s all well and good, but it’s time we got down to the nitty gritty: namely how much heat pumps cost.
Heat pump prices
Of the two technologies we’ve mentioned, air source heat pumps are the cheaper option to install. Air source heat pump prices will be around £6,000 to £10,000. In terms of achievable savings, you could be looking at between £400 and £650 according to the Energy Savings Trust. That’s quite a sizeable chunk of your home heating bills. Carbon dioxide reductions are not to be sniffed at either. You should be able to lower your household’s carbon footprint by as much as 5,230kg a year.
The Energy Saving Trust has estimated ground source heat pump costs to be between £9,000 and £17,000, with savings ranging from £510 to £650 per annum. In terms of carbon dioxide savings, a ground source heat pump can lower your emissions by as much as 5,230kg annually.*
Grants to install heat pumps
If you’re thinking of installing either a ground source heat pump or an air source heat pump you can apply for a Government grant which can be put towards the installation costs. Subject to meeting set criteria, you can apply for a voucher to the value of £2,300 (ground source heat pumps) and £1,300 (air source heat pumps) via the Renewable Heat Premium Payment. The scheme, a forerunner to the RHI, runs until the end of March 2014 and has been introduced to encourage and reward adopters of green heating.
Give expensive oil and electric heating the heave ho and say hello to renewable energy and heat pumps. Arrange for up to three free quotes from Heat Pump Guide’s MCS accredited heat pump installers. Once you’ve filled out the simple quote form – with your name, phone number, the type of property you live in and whether you want air source heat pump quotes or quotes for a ground source heat pump – we’ll be able to put you in touch with renewable energy installers keen to provide you with your free no obligation heat pump quotes.
*EST figures are based on renewable heating replacing electric heating in an average 3 bed semi detached property.