When you compare it to conventional heating methods, the ground heat pump can drastically reduce your energy bills, helping to save money on space heating and warming hot water. In fact, a geothermal system has the potential to reduce your bills by two thirds for the average home, especially those on electric or oil heating.
And with the money you save on bills, plus further incentives provided by the Government, you can easily offset the installation costs, making a fantastic return on investment.
The best time to consider a ground heat pump, in terms of being cost effective, in when building a new home or replacing an aged heating system.
So how does the ground heat pump work?
Geothermal heat pumps work much in a similar way to refrigerators, except in reverse. A loop of piping is installed under the ground, absorbing heat. This heat is then transferred to the home, passing through a compressor to increase the temperature so it’s suitable for heating your home and hot water. And because the temperature of heat stored underground remains consistent, ground heat pumps are fully operational throughout the year.
And with ground heat pumps you’ll be producing an environmentally friendly alternative to normal central heating. Geothermal energy is a natural source, compared to the burning of fossil fuels for heat, which release carbon emissions into the atmosphere.
So what about the savings possible?
Well, with a ground heat pump you can save up to £650 every year. This is when you replace electric heating in your home. There are great savings for those relying on oil heating too, of around £490 a year.
However, geothermal systems won’t be as lucrative for properties on the gas grid, but savings of £90 a year are still achievable.
No matter your current heating though, you’ll be eligible to receive an installation grant worth £2,300 and a guaranteed income for seven years too. Renewable heat technologies will receive a direct earning from spring 2014 for the energy produced and ground heat pumps will benefit from the highest tariff rates, at 18.8p/kWh.
For those who want to reduce their energy bills and end their reliance on the National Grid, consider a ground heat pump and start saving today.
Facts & Figures You’ll Love To Share
- A heat pump is capable of generating enough heat to reduce your annual energy bills by up to £650.
- The Government’s Renewable Heat Incentive will pay out hundreds of pounds a year for the renewable heat produced.
- Cash grants of up to £2,000 are available to help fund the purchase of heat pumps.
- As gas and electricity prices continue to rise, heat pumps will provide greater savings for the years to come.