Air source heat pumps have been known to be a more expensive heating option to install in your home, but not anymore. The new government grant will allow households to update their old and expensive gas boiler systems for more than half of the price.
Following Ofgem’s price cap announcement, energy prices are now at a record high with many UK households looking for new and cheaper ways to heat and power their homes. Because of this, renewable heating technologies are becoming a more competitive and valuable option.
Air source heat pumps have been known to be the more efficient way to keep your family warm as they use 3 to 4 times less energy, have lower monthly costs and last a lot longer than other heating options but they have previously had one downside, the installation cost.
The average price to install an air source heat pump was £10,500 but the government is now providing a new grant to help people save money on installation costs. The new grant is for £5,000 and is awarded to people who have sufficiently insulated homes. The 5% VAT has also been cut creating a new installation price of £4,975.
Since 2020, many companies have started to offer dedicated and discounted heat pump tariffs to reward households that choose to use renewable energy over fossil fuels. With these tariffs coming more common and more people switching over to greener energy, overall energy prices are likely to go down.
Installing an air source heat pump in your home could save you money in more places than just the installation cost. They are confidently cheaper to run than their gas boiler counterparts, saving families £60-£110 per year on their energy bills and even last 10-15 years longer so you won’t have to keep paying for new installations.
Maintaining your heating system can get expensive with call out fees, repairs, and annual check-ups. However, air source heat pumps don’t require regular maintenance aside from annual servicing. Unless something is wrong with your pump and it needs repairs, your system can run effectively without intervention.
Compared to their combustion-based counter parts, air source heat pumps come with lower risk. Gas boilers can leak if not properly maintained which could cause harm to you or your family whereas air source heat pumps use the warmth from the air outside.
Saving money in other ways
Air source heat pumps are more versatile than their name suggests, not only can they heat your home, but they can also cool it down for the summer months. Running both air conditioning and heating your water with a gas boiler could cost your household more than necessary. Having an air source heat pump that has a COP above 0.7 allows you to effectively cool your home during the summer and further saving your energy bills.
If you are looking for ways to save money on your energy bills and would like to know more about how an air source heat pump can help you, please contact our team and we’ll find the best option for your household.