Heat pumps could save Britons anywhere between 40 to 60 percent on their energy bills compared to a traditional gas boiler, according to experts.
The cost of installation has meant many have been put off installing a heat pump, despite the Government’s drive to promote the benefits of the devices.
According to GreenMatch, the cost of an air source heat pump ranges from £8,000 to £18,000, while ground source heat pumps cost up to £45,000.
However, experts are highlighting the potential savings that could be made from these devices in the long term, which could “outweigh” the installation cost.
Heat pumps could lead to long-term savings on energy bills
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Jon Bonnar, managing director of Cotswold Energy, told GB News: “Heat pumps are more energy-efficient than a traditional boiler because the amount of heat energy a heat pump produces is more than the amount of electricity used to generate the heat itself.
“Moreover, as more electricity is generated from renewable energy sources, the electricity used to power heat pumps is becoming cleaner, making it a more eco-friendly alternative.
“This also means that, compared to a conventional boiler, heat pumps are more cost-effective. After the initial outlay, the energy savings of a heat pump nearly always outweigh the initial cost in the long run.”
While savings could be made for some households, the energy expert urged households to compare the cost of gas and electricity where they live.
Mr Bonnar added: “There are significant savings, between 40 percent and 60 percent, compared to those with an oil or liquefied petroleum gas (LPG) boiler too, and those using solar-powered electricity will save even more.
“However, it’s always worth comparing the costs of gas and electricity in your own area to understand the cost difference.”
Despite the perceived pricey installation cost, various Government schemes are in place to relieve the financial pressure of putting a heat pump into someone’s home.
Among them is the Boiler Upgrade Scheme which offers £7,500 for air source heat pump, £7,500 for ground source heat pump and £5,000 for biomass boiler.
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The Government wants 600,000 heat pumps a year to be installed by 2028PAIn order to be eligible for the Boiler Upgrade Scheme, recipients must own the property they are applying for and be replacing a fossil fuel heating system (one that uses oil, gas or electricity).
Applicants can still get the grant if they have previously received other funding to improve the energy efficiency of their home.
Those interested in receiving this support can apply for the Boiler Upgrade Scheme through the government website.