The growing market for heat pumps in the UK makes now a perfect time for homeowners to consider getting one
The typical cost of installing an air source heat pump is around £14,000, but initiatives such as the Boiler Upgrade Scheme offer financial incentives
Homeowners can see significant annual savings on energy bills when switching from outdated heating systems to heat pumps
The energy price conversation has been at the forefront of our minds for several years now, as well as growing environmental concerns around the way we use (and spend money on) energy sources. UK households are actively shopping for efficient and sustainable heating solutions.
Air source heat pumps have emerged as a popular choice due to their potential for energy savings and the way they directly support the UK’s green ambitions. In fact, a recent report found that 42% of prospective homebuyers actually consider EPC score as a “very important consideration” when buying a property.
Additionally, the government has now introduced the Future Homes Standard, which requires all new homes to be built with low-carbon heating, making heat pumps and similar measures compulsory. The goal is to ensure that future homes are energy-efficient and environmentally friendly from the start. If you’re thinking about making the switch, now is an excellent time to explore the options, the costs and the benefits.
Why Is Now a Good Time to Get a Heat Pump?
The heat pump market in the UK is expanding right now; the government is keen to support households in transitioning to more sustainable heating solutions like heat pumps. Recent scheme updates are in place to make the adoption of heat pumps more feasible for homeowners.
Initiatives such as the Boiler Upgrade Scheme offer financial incentives to encourage families to get a heat pump. Now is an exciting opportunity to look into upgrading your heating, reduce your carbon footprint and save on bills by taking advantage of new government backing. It is important to remember that air source heat pumps work in cold climates as well as hot.
How Much Do Heat Pumps Cost?
The typical cost of installing an air source heat pump is around £14,000. However, the final price can vary based on several factors, including:
Size of Heat Pump
Larger systems may be required for bigger homes, which could increase the cost.
Property Type
Installation in new builds compared to existing properties may differ in price, often due to the additional considerations needed for older homes.
Radiator Upgrades
If your current radiators aren’t suitable for use with a heat pump, enhancing or replacing them can add to overall costs.
While the initial investment might seem hefty, it’s important to view this as a long-term strategy for savings and comfort.
“Relying on renewable electricity sources can lead to lower costs over time. As the grid becomes less dependent on gas and more on solar, wind, and nuclear power, electricity prices are likely to decrease, making heat pumps an even more attractive investment.” – Paul, RES Energy Advisor
How Much Will I Save?
Switching to an air source heat pump can significantly impact your household energy bills, particularly if you’re replacing an old heating system. Current estimates suggest the following annual savings for a standard air source heat pump in an average-sized, three-bedroom semi-detached home:
Replacing an old (G-rated) gas boiler: £290 savings per year
Transitioning from old electric storage heaters: £1,200 savings per year
Switching from old (G-rated) LPG boiler: £650 savings per year
Upgrading from new (A-rated) LPG boiler: £260 savings per year
Transitioning from coal heating: £650 savings per year
These figures demonstrate how much you could potentially save by making the switch, especially if you are currently relying on outdated heating systems.
“The biggest savings come from eliminating the daily standing charge for gas, which can save around £200 a year if gas is disconnected. Overall costs can be reduced, especially compared to traditional gas systems, with the main benefit being the use of renewable energy.” – Paul, RES Energy Advisor
What Scheme Support Is Available to Help Me Get a Heat Pump?
The UK government has various schemes in place to assist homeowners looking to install heat pumps. One exciting initiative is the Boiler Upgrade Scheme, which can provide financial help of up to £7,500 to offset installation costs. Local councils may also offer additional incentives, so it’s worth checking for any local programmes available in your area (we can help you with this.)
These funding opportunities can reduce the financial burden of that initial upgrade to a heat pump, making it a more viable option for families looking to enhance their home energy efficiency.
Am I Eligible for Heat Pump Scheme Support?
If you’re considering installing a heat pump, it’s important to check your eligibility for available support. At RES, we are here to help guide you through the process. By filling out our short eligibility form, we can assess your situation and get in touch with tailored advice regarding any funding options available to you.
Switching to a heat pump is a big step towards reducing your energy costs and carbon footprint. With the right information and support, you can make the right decision that benefits you and your environment. Don’t hesitate to reach out and we’ll help you get started.