Heat Pump Costs Explained
Are you thinking of investing in a heat pump? Maybe you’ve heard they are more efficient, reduce your carbon footprint and that boilers are becoming less popular. Through this economic period with energy bills already risen by 66.7% according to the Office for National Statistics, it is hard to say no to the heat pump’s cheaper solution in the long-term. However, you don’t know exactly how much this will cost upfront, or whether it is a good long-term investment to suit your needs.
Warmaway is here to bring you a full breakdown of heat pump costs, so there’s no surprises when you come to buy yours. Read on to find out more.
Heat Pump Costs
Different types of heat pumps in the market draw energy from different sources, such as air source heat pumps and ground source heat pumps. Below we have broken the costs down of heat pumps and why they are at that price point.
Ground Source Heat Pump Cost
Ground source heat pumps (GSHP) are usually more expensive in comparison to other heat pumps in the market. This is due to the source of energy being extracted from the Earth’s natural heat. As a result, it is a longer installation process.
Ground source heat pump installation cost
Installation of ground source heat pumps usually costs around £14,000 to £19,000.
The process of ground source heat pumps involves excavation to fit in the heat pump loops pipes. In other words, the ground needs to be hollowed out to fit the heat pump system which extracts the heat from the ground.
This process can be done horizontally through deep troughs around 50-150m deep.
Alternatively, in areas with low feasibility of horizontal excavation, this can be done vertically (also known as bore holes) which range between 15-122m deep. Vertical bore hole excavations are usually more expensive in comparison to the horizontal excavation due to it requiring specialist equipment.
As a result, the process of ground source heat pumps installation takes longer due to it requiring a lot more laborious work. Through this, around £4,000-£6,000 of the installation costs contribute to the excavations process prior to placing the ground source heat pump system.
Want to find out more on how ground source heat pumps work? For more information on the process visit our ground source heat pumps page.
Factors affecting ground source heat pump installation costs
Ground source heat pumps can range in price due to several reasons and so there is not one set price. The cost entirely depends on your home and your property, including the following:
- Size of property – larger properties may have to have a larger system in place.
- Space around property – this will determine whether you will need horizontal or vertical bore hole excavation.
- Current insulation – the more insulated your home is, the less insulation may need to be done prior to installation. If your home is not insulated, it may impact the effectiveness of your ground source heat pump in terms of keeping your home heating costs down.
- Soil – the soil type can impact the cost of the heat pump installed. Soil with high thermal diffusivity works more efficiently with the heat pump due to it being able to store and transfer heat better.
Ground source heat pump running costs
The lifespan of a ground source heat pump is over 25 years. However, it is also wise to have some money set aside in case of any repairs needed to be made.
Ground source heat pumps are up to 400% efficient. Due to the high efficiency of ground source heat pumps, there are little running costs of £1,050–£1,650 per year – not much in comparison to your gas boilers.
Ground source heat pumps grants
Fortunately the government boiler upgrade scheme allows for around £6,000 off the costs of your ground source heat pump.
For more information, check out our boiler upgrade scheme page and apply here to start an application.
Air Source Heat Pump Cost
Air source heat pumps are usually less expensive in comparison to ground source heat pumps. This is mainly due to them being less complex to install due to less complexity in construction needed prior. This is due to the whole air source heat pumps system being installed on an outside wall of the property.
Air source heat pump installation cost
Air source heat pumps cost around £4,000 – £8,000.
Although the installation process requires less manual labour and complexity with construction, other factors may contribute to the installation costs.
Factors affecting ground source heat pump installation costs
- Changing your radiators or installing underfloor heating – your existing heating infrastructure may hinder the effectiveness of your air source heat pump. As a result, to get the most out of your heat pump, changing your radiators or installing underfloor heating may be necessary. This is due to air source heat pumps working at optimum level at lower temperatures; underfloor heating heats a larger surface area, however, does not need to be heated at high temperatures – nobody wants to burn their feet! For more information on heating systems check out our underfloor heating page.
- Extra costs on insulating your home – if your current insulation infrastructure is weak, it can affect the efficiency of your air source heat pump. As a result, extra costs through installation may be needed to ensure you can get the most out of your heat pump.
Air source heat pump running cost
Similarly to ground source heat pumps, air source heat pumps are 300% efficient, which is significantly more efficient than gas heating systems. Its lifespan covers around 25 years.
In consideration of this, according to Eco Experts, running costs for air source heat pumps can be up to £1,360 per year for an average house. This is not much different to what you would spend annually with a gas boiler. In addition, air source heat pumps produce cleaner and more environmentally friendly energy and heat.
For service and maintenance, it is recommended that you get your air source heat pump annually serviced. For more information and guidance on service and maintenance, check out the service and maintenance plans Warmaway can offer you here.
Air source heat pumps grants
Fortunately the government boiler upgrade scheme also offer grants for air source heat pumps knocking around £5,000 off the costs of your air source heat pump.
For more information, check out our boiler upgrade scheme page and apply here to start an application.
Which heat pump is a better investment?
The strategy towards making heat pumps a legal requirement is on its way. With speculation from the government around the ban of boilers, the decision to change to heat pumps is enticing, especially with our current economic environment.
However, it can be difficult to know which is the best one to buy.
To answer your question – it completely depends on your circumstances and how much you have available to invest.
Get an instant quote on our heat pumps to see which is the best suited for your needs, home, and finances.
How can Warmaway help?
With 45 years of experience, the team at Warmaway has the expertise, knowledge, and skills to install the heat pumps best suited for you. As professional heat pump installers, our offering doesn’t end with installation – we provide service and maintenance, assisting you through your journey to a more efficient, renewable, and long-term cost effective way to heat your home.
Get in touch today to discuss more about the best option for you.
