Saving Money With Heat Pumps
Table of Contents
- 1 - How Can You Save Money With Air-to-Water Heat Pumps?
- 1.1 - Reduced Heating Expenses
- 1.2 - Cheaper to Operate than LPG or Oil Options
- 1.3 - Maintenance Is Minimal
- 1.4 - Can be Used During Summer Months to Provide Cooling
- 1.5 - Lower Carbon Footprint
- 1.6 - Make Money via the Renewable Heat Incentive
- 1.7 - High Energy Efficiency Ratings
- 1.8 - Reliability
- 1.9 - Heat Pump Type
- 1.10 - What You Can Save With Air Source Heat Pumps
- 1.11 - What You Can Save With Ground Source Heat Pumps
- 1.12 - Need More Ways to Save Energy? Consider Heat Pumps Combined With Renewable Energy
- 1.13 - Beneits of Heat Pumps
Many homeowners seeking to reduce their energy bills and carbon footprint are starting to look at heat pumps for a cost-effective, long-term heating solution for their homes. According to the Energy Savings Trust, a Ground Source Heat Pump which provides energy to your home without gas supply can save you around £3,000 annually.
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How Can You Save Money With Air-to-Water Heat Pumps?
Reduced Heating Expenses
An air-to-water heat pump running costs are minimal because it runs on cheap air energy, although it needs some power to operate. You will also have to use less of your furnace, so you will not have to buy as much gas or oil from a manufacturer. Some studies have estimated that homeowners can save up to 50% on their annual heating bills.
Cheaper to Operate than LPG or Oil Options
Once constructed and properly designed, Air Source Heat Pumps are less costly types of heating than LPG and oil boilers. An Air Source Heat Pump should have a COP of about three, which means you get 3kW of heat out of it for every 1kW of electricity that is used to power it.
Maintenance Is Minimal
Since Air Source Heat Pump technology has been available for decades, it is highly efficient and reliable. Air Source Heat Pumps require minimal maintenance using the same equipment as do fridges and freezers.
Air-to-water heat pumps use electricity, instead of directly generating heat, to transfer heat from one place to the next. These usually have lower operating costs than traditional air-to-air heating systems, and the lower operating costs will produce a reasonable return. The air heaters can, therefore, be more efficient and cost-effective than conventional air heating systems.
Can be Used During Summer Months to Provide Cooling
Some Air Source Heat Pumps can be installed to cool your property using a reverse cycle instead of heating it so that one unit can provide both heating and cooling to your house. They provide a single system with both heating and cooling functions.
Electrically powered heat pumps are designed not to generate emissions locally and they are even more environmentally friendly if they are powered by renewable energy sources such as wind and sun.
Lower Carbon Footprint
Air Source Heat Pumps offer a lower carbon footprint as well as energy cost savings and are easy to install, cost-effective and environmentally friendly. Not only are they suitable for well-insulated houses and buildings but they are also more efficient and cost-effective than traditional heat pump systems.
The solid structure of modern heat pumps, however, means that you don’t have to waste as much time and resources on repairs as you will for other devices. Some details of the system must be checked regularly, once a year, which can easily be accomplished by yourself.
Make Money via the Renewable Heat Incentive
If you attach an air-to-water heat pump to a central heating system, you can earn money through the government’s RHI (Renewable Heat Incentive) scheme. The RHI scheme is designed to encourage property owners to reduce the UK’s carbon footprint by adopting renewable heating solutions. Payments are made on a quarterly basis over a seven-year period and the payback you might get is based on a tariff per kWh of heat you use.
High Energy Efficiency Ratings
A typical household heat pump has a 2.5 COP which means it produces as much energy as it consumes in electricity under optimal conditions. A new heat pump installation will help you enjoy many advantages including higher energy efficiency, lower maintenance costs and more energy-efficient cooling.
A heat pump system is reliable enough to give you the ideal heating solution, no matter the weather. So when the temperature drops or rises your heat pump will generate enough heat or cool air for your home without you having to raise a finger. You get air conditioning, hot water, and heating in one energy-efficient solution when you invest in an air source heat pump system. Heat pumps are also popular for their durability, as they are estimated to last up to 50 years, ensuring you save money on spare parts.
What You Can Save With Air Source Heat Pumps
If properly installed, Air Source Heat Pumps can reduce the energy costs of your home by between 40% and 50%. They offer a lower carbon footprint as well as savings in energy costs and can be easily installed in well-insulated homes and buildings. They are also cheaper to install and more efficient than conventional heating and cooling systems, and less likely than conventional heating systems to overheat.
As mentioned earlier, the Renewable Heat Incentive (RHI) established by the UK Government to facilitate the installation of renewable energy heating devices in domestic and commercial properties, will pay you and further reduce the already low running costs of your heat pump.
The RHI payments depend on the amount of electricity you use, and the rate is set to be valid for twenty years from now. You can start earning money through this scheme from the day you begin to use your heating system. The Renewable Heat Incentive rate is 2.5p/kWh for installed an Air Source Heat Pump system.
What You Can Save With Ground Source Heat Pumps
Based upon a variety of factors, how much it costs to install a Ground Source Heat Pump will vary. GSHPs generally costs between £20,000 and £45,000. It depends on what sort of heat pump you want to use to harness the heat emanating from the earth.
A vertical Ground Source Heat Pump will cost more, and you should be prepared to pay anything between £30,000 and £45,000 because the construction process requires specialists to dig deep into the ground, generally about fifty to hundred meters deep.
On the other hand, only 1 to 2 metres need to be drilled into the ground for a horizontal Ground Source Heat Pump, resulting in lower installation costs. Usually, a horizontal system will cost between £20,000 and £35,000.
Bear these several cost factors in mind when considering Ground Source Heat Pumps for your property:
- Financial support schemes such as the RHI
- Installation fee
- Type of system
- Size of the system
Even though it is a big initial investment, a Ground Source Heat Pump pays for itself in lower cooling and heating costs as well as RHI payments.
Ground Source Heat Pumps, in particular, will ensure clean heating and cooling, without creating noise or disrupting the landscape. They can also reduce your energy costs by up to 70%.
In addition, if a Ground Source Heat Pump is installed, your output will be measured and your RHI payments will be dependent on how much heat you use. You will be compensated as per Tier 1 rates if you use up to 3066 hours of heat (2.91p / kWh) and on Tier 2 for anything you use after that (2.05p/kWh).
Need More Ways to Save Energy? Consider Heat Pumps Combined With Renewable Energy
Today, with the increasing availability and popularity of renewable energy sources, it is not as difficult as it was a few decades ago to ensure proper household heating that is safe and at the same time cost-effective and eco-friendly as well.
Environmental sustainability is being embraced by more and more people as they take a green stand for the environment. These individuals are switching to solar panels and heat pumps as a way of generating energy for their homes.
The energy efficiency levels of using combined solar panels and heat pumps, with their eco-friendliness, make these the ideal fit for those who are worried about their impact on the environment and trying to obtain the best ROI.
A mix of Ground Source Heat Pump and solar-energy generating devices is favoured in order to make the most of the energy sources that are available in endless supply.
Hot Water Savings With Solar Energy
For the heating of domestic water, solar water heating uses the energy of the sun. Switching to this technology will result in your domestic carbon footprint decreasing since it relies on a clean energy source. If you invest in this type of renewable heating solution, you would save between £55 and £80 on your water-heating bill every year.
Depending on whether you use the existing hot water cylinder or need a new one, as well as the size of your property, a domestic system will generally cost around £3,000 to £5,000. If you purchase solar hot water panels you could save a lot on your monthly energy bill.
Average savings on a solar water heating system with proper maintenance in a well-insulated home can exceed £70 a year when switching from an electric immersion heating system and £60 annually when switching from a gas heating system. Of course, savings can vary depending on the use of household energy.
Solar water heating is cost-efficient, especially if you are using the Renewable Heat Incentive. At the moment the solar thermal panel tariff is 21.36 p / kWh.
The ACE Heat Pumps UK: A Reliable Partner for Renewable Energy Technologies and Heat Pump Installation
At The ACE Heat Pumps UK, we are dedicated to providing renewable energy solutions and installing Ground Source Heat Pumps, Air Source Heat Pumps, and hybrid heat pumps. We will supervise the heat pump installation from start to finish, and provide unsurpassed aftercare and maintenance services.
Our services are available throughout the UK and our heating engineers are available 24/7 to ensure a quick response. Our engineers have extensive expertise and can work on a variety of projects, from homes to large corporate buildings to small businesses, industrial sites and schools.
Please contact us today on 01273 257407 if you would like to install heat pumps for your home, office or commercial premises or have any questions regarding how heat pumps work.