Air source heat pumps are one of the most efficient appliances on the market to heat your home. With traditional boilers running at 90% efficiency rates, you are losing 10% of heat through the burning of fossil fuels to create the heat. Heat pumps on the other hand have an efficiency rating of around 350%. We expect that fuel prices will rebalance in time, which will make the running costs on a par or even cheaper what you’d typically pay for your existing heating system. When you weigh up the environmental benefits against the fossil fuel options - heat pumps are the better choice.
According to Energy Saving Trust, it costs about 4.65p per kWh to heat a home with gas, 4.82p per kWh for oil, 7.70p per kWh for LPG and about 20.06p per kWh with standard electric heaters. Whilst a typical air source heat pump might cost about 5.73p per kWh to run.
Example of air source heat pump running costs on a modern four-bedroom house
Energy prices vary – and our homes and energy use differ too. So it’s hard to give an exact figure for how much money you could save in a year. But, based on some industry-wide figures, we’ve put together this example.
A modern four-bedroom house might need about 19,000kWh of heat per year (although this will vary).
- This would cost around £884 in gas (90% efficient; gas cost of 4.65kWh multiplied by 19,000kWh).
- Around £916 for an oil fueled home (90% efficient oil boiler; oil cost of 4.82kWh multiplied by 19,000kWh)
- Around £1,463 for LPG home (90% efficient boiler; LPG costs of 7.70kWh multiplied by 19,000kWh)
- Using an air source heat pump and electricity priced at 20.06p per kWh the cost would be £1,089 (20.06p/kWh divided by coefficient of heat pump performance of 3.5, multiplied by 19,000kWh).