How much does a home heat pump cost?

A heat pump can be extremely costly to install, and for that reason a lot of people try to stay away from purchasing one. Luckily, there is now a UK Government grant scheme to help you afford to install a heat pump in your home. The Boiler Upgrade Scheme is designed to encourage UK homeowners to switch to renewable technology, and the grants are designed to offset high installation costs that can be a barrier to consumers. In this article, we will provide estimates of the costs involved when installing a heat pump, and which heat pump option may be best for you.

What is a heat pump and how does it work?

First things first, what exactly is a heat pump?

A heat pump is a device, powered by electricity and controlled by a thermostat, that moves heat from one place to another. It can be used to heat up your home in the winter and cool it down in the summer.

In the winter, a heat pump moves heat from the warm air outside into your home. In the summer, it does the opposite.

There are two main types of heat pumps: air source heat pumps and ground source heat pumps.

Air source heat pumps get their heat from the outside air. They are less expensive to install than ground source heat pumps, but they are not as efficient in a cold climate.

Ground source heat pumps get their heat from the ground. They cost more to install, but they can work better in a cold climate (depending on the region you live in).

Heat pumps are a very efficient way to heat and cool your home (and to improve your homes energy efficiency rating). They use less energy than traditional heating such as mains gas boilers, so they can save you money on your energy bills.

What are the benefits of installing a quality heat pump in your house?

The benefits of installing a heat pump are many and varied, and they’re able to save you money while also being eco-friendly. The main advantages are:

• Lower energy costs. This is because you, as the homeowner, are utilising outside energy sources to fuel your own home. Powering your heating and hot water by utilising a heat pump can reduce your reliance on other energy sources (e.g. gas and oil). Heat pump technology has come a long way in recent years, so you can expect to see your bills drop significantly.
• Longer product lifetime. We all know that boilers and other heating appliances have to be replaced often and can be very expensive when doing so. The good news is that heat pumps can last for an extremely long time. They range anywhere from 15 years up to 50 years.
• Reduces carbon emissions. If you’re looking for something that is eco-friendly and works for your home, this may be the best solution for you. A heat pump works to reduce the carbon emissions that go into the atmosphere, making it cleaner and healthier for the environment than its counterparts (such as a mains gas boiler) thus reducing your carbon footprint.

Now that you know more about heat pumps, we will get into the details of how much a heat pump can cost.

How much money does a heat pump system cost (and how will it reduce my utility bills)?

As we mentioned earlier, the cost of a heat pump can be very expensive, but heat pump prices have dropped in recent years. With energy bills rising, heat pump costs are now offset much quicker due to the energy savings they bring.

The cost of a heat pump will be based on the heat pump size your property needs, whether you’ll need backup heating or a hybrid heat pump unit, and the brand and model. Ballpark heat pump prices can range anywhere from £8,000 to £18,000. This is just the average going rate and could be more or less depending on which option you choose and which company you use to install it (installation fees may also apply).

The make and model of the heat pump will play a part in the overall initial costs. The cost of installation can also play a factor in how much your heat pump will cost (e.g. labor cost). If you have a complex home, it may be more expensive to install. However, if you have a simpler home, the installation may not be as costly.

While we could give estimates here in this post, we feel that you should speak to a professional like ourselves (or ideally get three quotes). Reputable installers can give you an accurate quote based on your circumstances, and also provide an energy savings estimate so you know how much you will save over time.

You’ll need to ensure you get a quote from an installer that has access to grants under the Government’s Boiler Upgrade Scheme, as that will shave £5,000 off the installation costs.

In addition to installation costs, it is worth looking at maintenance and on-going costs. In the next section, we will go into detail about the running and maintenance costs of a heat pump.

How much will I spend on the maintenance of a heat pump once it is installed?

Air source heat pump systems should require little upkeep over the years, but you will need to pay for an annual service to ensure that it is running at peak performance.

It’s a good idea to keep an eye on how your heat pump is performing to ensure that you don’t pay more than you need to.

We will dive a little bit more into detail about why each of these is important to be aware of, and how they contribute to a higher overall cost if not optimised.

1. Heat pump performance. This is vital to making sure that your heat pump is running as efficiently and cheaply as possible. By making sure that the performance is up-to-date and running smoothly, you can guarantee that you will get the best when it comes to the heating in your house.
2. The amount of heat needed. If you live in a cold climate, you may need more heat for your house. That in turn makes it more expensive to run your heat pump. The harder it has to run, and the longer it has to run, the more expensive it will be. The same logic applies for the temperature you set your thermostat too. The higher you set it, the more heat is required and, as a result, the more expensive it will be to run.
3. The size of your home. Of course, the bigger your home, the more expensive it will be to heat. If you have a smaller home, you can expect to pay less.

We’d recommend getting an energy assessment prior to installation to get the most accurate estimate of not only the installation and heat pump costs, but also to ensure that maintenance and on-going costs and performance indicators are included.

How to apply for a heat pump system installation grant

To qualify for an Air Source Heat Pump (ASHP) grant, you must live in England and Wales. You’ll need to own your home, and the amount you could receive towards the cost is fixed at £5,000.

You’ll need to apply for the grant with a registered installer like us at Eco Providers. You can find a list of registered installers on the Trustmark website, and you’ll find our details there as we are registered to apply for grants on our customers behalf. The first step is to request a quotation from the installer(s), and once you accept the quotation the installer will apply for funding on your behalf (and manage the installation process).

If you’re interested in learning more about heat pumps, or want to know how much it would cost to install one in your home, our experts are here to help. You can find out the cost of a heat pump and see if you qualify for a grant by filling out our online form. We’ll get back to you with all the details, so you can make an informed decision about whether a heat pump is right for your home. Thanks for reading!

Frequently asked questions

How do heat pumps work?

A heat pump is a mechanical device that extracts heat from the ground or air and uses it to heat your home.

How much does a heat pump cost?

The cost of a heat pump will vary depending on the size of your home, the type of heat pump you choose and the installer you use.

What factors should I consider when choosing a heat pump?

There are a few things you should consider when choosing a heat pump such as the size of your home, the type of heat pump you want to install, and the installer you use.

How much does it cost to install a new heat pump yourself?

You could potentially save money by installing a heat pump yourself, but it is important to make sure you know what you are doing. Hiring a professional to install your heat pump could end up costing you less in the long run.

How efficient are heat pumps?

If they are installed correctly heat pumps are very efficient and can save you a lot of money on your energy bills. They work by moving heat from one place to another, so they don’t generate new heat like a furnace or boiler would.