Quotatis | Heat Pump Advice

Heat pump benefits, costs and savings

Heat pumps are part of the renewables umbrella group and produce free, environmentally friendly heat by extracting energy from the air or ground. This heat energy is then transferred to the home where it can be used for heating or hot water.

There are two types of heat pump which can be used in the home; the ground source and the air source heat pumps. Both use some electricity to run, but extract heat from a renewable source.

Heat pump benefits

  • Provide free energy from a renewable source, saving up to 75% on your annual heating bills (space heating and hot water)
  • Avoid the rising prices of National Grid gas and electricity
  • Earn a fixed income when the Renewable Heat Incentive incorporates heat pumps. Expected rates will see an annual income of £850
  • Heat pumps are known as a fit and forget technology as after installation, they require little maintenance to be in full working order for many years to come

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Heat pumps costs & savings

There are two main types of heat pump that you would consider purchasing; ground source heat pumps and air source heat pumps.

For a ground (geothermal) pump you’re looking at anything between £9,000 and £17,000 for the cost of installation.
On the other hand, air source heat pumps are typically cheaper, ranging between £6,000 and £10,000.

For both systems, the running costs will depend on the size of your home and how well insulated it is with measures such as double glazing. Savings achievable with a heat pump will also be affected by these factors.

 

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.
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